OT: eBay's New Bid Retraction Policy

[samosa4u]

***If this has been discussed on here already, then please delete this thread - thanks ***

I received this email today:

Dear XXX,

We are updating our bid retraction policy for Sports Trading Cards, Non-Sports Trading Cards, and Collectible Card Games auctions. Starting December 7, 2021, buyers will no longer have the ability to retract bids on Trading Cards auctions without seller approval. Sellers’ decisions to accept or reject auction bid retraction requests will be final.

How the new auction bid retraction policy will work

Starting December 7, 2021, you will need to contact the seller via messaging on eBay and request a retraction if you want to retract an auction bid. The seller, at their sole discretion, will be able to accept or decline your retraction request. If the seller does not accept your request, your bid can still win or lose the auction, and you will be required to make payment on any winning bid you submit. We also inform buyers on our “Bid Retraction Policy” page that “a bid is a binding contract.”

As previously communicated in April 2021, if an item goes unpaid by the 5th calendar day, the seller may cancel the order due to non-payment. Regularly missing payments may impact your account. Check out our Unpaid Item Policy to learn more.

We appreciate your support and willingness to work with this new policy, as we anticipate our Trading Cards policy update will make eBay a more trusted and fairer marketplace for all. As always, thank you for buying on eBay.

As always, thank you for buying on eBay.
The eBay Team

This is great news. What do you guys think?