- Can I cancel or lower my bid?
You cannot cancel a Pre-bid, nor a bid placed during the live auction. Every bid is final and binding. Make sure that you are confident in your bid before you place it. If you end up winning the auction based on the bid that you placed, you will be responsible for completing the entire sale.
If the particular car auction gives you the ability to enter your “Maximum Bid” and you entered a maximum bid, you can lower your maximum to the next highest bid. For example, if the current bid on the auction is $2,100 with bidding increments of $100 and your maximum bid is $5,000, you can lower your maximum bid to $2,200 (which is the then highest bid plus the next bid increment).