When you place a bid on an item, you are bound by the agreement once the seller has accepted the bid. Therefore, you should never bid on an item until you are absolutely sure that you intend to buy it. This will save both you and your seller from a bad experience.
An acceptance of a bid can be achieved if:
- The Seller says: "Price OK", "Bid accepted" or something along those lines.
- You bid the seller's "jump-to-price" or Buy-Now price.
- You have the highest bid by the end of a betting round.
If the seller has listed a minimum price, only the bids which exceeds the minimum price will be conceived as valid. Some Sellers use the "+ 5 rule", which means that the closing time is extended with 5 minutes for each new bid if more than one buyer choose to place a bid just before the bidding round end.
If you change your mind about a placed bid, you can always retract the bid itself, if the seller has not yet accepted your bid.
The above rules also applies if you are a seller. If you have accepted a buyer's bid the acceptance is binding and you are not allowed to sell the item to another buyer instead. Also remember, that any trade form which you have offered on your listing, is binding as well. If you have e.g. only offered to trade via TSpay, you cannot require your buyer to make the payment in another way, once the bid has been accepted.