Bid Retraction -- Invalid?

[defender68801]

My auction was going great.  The bidding reached a level at which I would make a profit.  Then I get a message from eBay saying that a bidder was allowed to retract his bid because he "entered the wrong amount."  Baloney!  That bidder just changed his mind, and picked a "valid reason" to retract his bid.  His bid was in fact low compared to what an item of this type and quality generally sells for.

Can I cancel the auction and relist, so I don't get taken advantage of?  Somebody else could have seen the [Bid That Was Later Retracted], thought they couldn't win, and then not entered a bit themselves.  I would rather keep the item than have it sell at its current level [which in my opinion is low].  However, that wouldn't be fair to the bidder who legitimately entered [that which is now the high bid], right?

Is there anything I can do about this situation, or do I just have to wait and hope that somebody enters a higher bid?

[coolections]

There was no bid retractions according to your sold fishing reel ?

[tajenn-2263]

The bidding reached a level at which I would make a profit.  Then I get a message from eBay saying that a bid

_

Your fault for starting below profit level

[1tuna]

you shoud take the $60 bidder and block them from future auctions

ebay does not care at all about bid retractors.if you cancel the auction now your customers are really going to dislike your acutions

plain and simple the bidder who backed out caused interfearance

[johnrj1226]

Is there anything I can do about this situation,  No!  eBay allows bid retractions

or do I just have to wait and hope that somebody enters a higher bid?  Yes and if you do not receive a higher bid you need to accept the current bid.

Think positive - you could have sold it for 99 cents your starting bid.

[nobody*s_perfect]

Alas, as noted in the other post, eBay doesn't care about bid retractions. Many are actually for "changed my mind".

If you end the auction early, you will probably be charged a penalty fee equal to what the final value fee would have been if that bid had not been retracted. So don't do that!

 https://www.ebay.com/help/selling/listings/creating-managing-listings/cancelling-listing?id=4146

The auction still has a while left, so there's a good chance that you'll get more bidders. As noted in the other post, it's best to start the bidding at a price you'd be willing to sell for, in case you get just one bidder.