For future reference, you may retract a bid if done within a certain timeframe.

Here's the thing - it depends on how ethical the Seller is.
He doesn't HAVE to do anything.

Kudos to you that you're standing up and admitting your mistake.

However, if you showed me proof that your proxy was, in fact, $4,700 (remember, the seller never sees it), I would offer it first to the other bidder for $48. Because had your proxy been correct at $47, you would have immediately been outbid by HIS proxy which would have only upped the bid amount to $48.

Or, if the Seller is less ethical, he could try to sell it to the next bidder, but that would be unfair, because the 2nd bidder's bid of $69.99 is ONLY a result of your incorrect bid.

But, like other posters said above, it was your mistake, the "damage" isn't horrific, and the quilt has some value.

Lucky for you the other bidder didn't have a crazy bid in there as well. That's what we call nuclear bidding - and sometimes ends in disaster for at least one of the bidders. :wink:

oops

I too have made an error in the past. Maybe we had the same buyer. Mine got a little mean spirited and very very defensive. I paid, but I also let Ebay know of the attitude issue. Just forwarded her nasties and my niceties...

Sorry about this Suzi! But I like that you're taking responsibility for your mistake. No whining or drama on your part. That's refreshing. We all make mistakes and sometimes we just have to take our lumps when we do. That's what you're doing, and trying to help us with a reminder to be a bit more careful. Good for you! :-D

http://pages.ebay.com/help/buy/automatic-bidding.html

Make very sure you understand how it works before playing in that sandbox.

And then, when you've mastered proxy bidding, you can move right on up to "sniping." :mrgreen: :mrgreen:

fwiw, I never, ever proxy bid. I snipe.

You can dispute this I had someone do this to me she stated that she made an error inputing the amount it is obvious what you did and ebay should stop the sale.

Rest assured...I will never snipe in that sandbox!!!

I did something like that one time and retracted my bid without any problems. I did email the seller to let them know of my mistake.

But it's really the best way to bid. :mrgreen: