I would like to withdraw a bid on a niche, the auction is still under way

Product: Narrative

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I think the issue would be this would create implications such as people bidding to spike the price, and then leave. Or draw non-serious bidders. 

Would love to hear Narrative's official answer though.

@Malkazoid, no, it's no longer possible to withdraw a bid. We previously supported withdrawing bids, but only if you were not the leading bidder. That model was problematic since someone who was outbid would remain (possibly unknown to them) obligated to pay for the niche if the auction winner failed to pay. That was too confusing of a system.

We've never allowed withdrawing bids as the leading bidder, as doing so would allow manipulation of auctions and would only compromise the system. If I could withdraw my bid, I could go around testing auctions and expose the otherwise hidden max bid of the current leading bidder. I'd just need to bid a very high amount, see what their max bid was, and then withdraw my bid. This is why eBay holds you to the bids that you make: to not do so would ruin the entire model.

Hope that helps!

Thanks!  That makes perfect sense.

I know we're getting into serious wish list territory here, but I think I'd rather take a rep hit and be able to cancel my leading bid, since ownership of a niche is a big deal and if I'm not going to be able to do right by it, everyone wins if I don't become the owner.  So if you were inclined to make any changes, I'd suggest allowing people to cancel one bid per month, and potentially include a rep hit.

It is also pretty easy to automatically figure out whether a bid was used to suss out the maximum bid or not.  If the bid made was the proposed minimum incremental bid, then it could not have been for the purpose of sussing out the other person's maximum bid, so those bids could be allowed to be retracted.

Anyway, probably very low on your priority list I imagine.  Just food for thought.

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