Can I reduce my maximum bid

[weedawson]

I have placed a max bid of £80 on an item. It’s at £56 now. Can I reduce my max bid Or cancel my bid?
I didn’t read the description for the item before I placed the bid. It looked good, but then a bit to good to be true, when I did read it it’s clearly a fake

[redwick1]

You should have read the description before bidding.

There are few reasons to retract or change a bid and really you bid what you thought you did not make a mistake by adding 0 or putting the wrong amount

See the link to the ebay policy

https://www.ebay.co.uk/help/buying/bidding/retracting-bid?id=4013

If you retract your bid for putting in the wrong amount then you have to put in the correct amount straight away

If you dont or retract for the wrong reasons then you can be reported and retractions show on your account