See below:
Retracting a Best Offer
When you make a Best Offer or a counteroffer, you're agreeing to buy the item at that price if the seller accepts. However, if you've made a mistake when making an offer or a counteroffer, you can retract or cancel it in certain circumstances.
You can retract an offer if:
"There are two ways to be fooled. One is to believe what isn't true; the other is to refuse to believe what is true.”
Søren Kierkegaard, Danish philosopher (1813 - 1855)