As trading cards of all types continue to be a hot commodity, eBay has updated its bid retraction policy as it relates to trading cards. Starting on June 30, people will no longer be able to retract a bid for a trading card without permission from the seller.
This comes as trading cards of all types have had a massive influx of sales in recent months. Pokemon, MLB, NFL, and NBA cards have all seen a rise in popularity, even prompting Target to stop selling cards in stores because people cannot behave themselves.
eBay has become a popular place to buy and sell cards since people can sell any rare cards they pull for a markup, something people even did with the McDonalds Pokemon cards back in February. The updated policy removes the ability for people to retract bids on trading cards without the seller’s permission.
“Starting June 30, if you want to retract an auction bid, you will need to contact the seller via messaging on eBay and request a retraction. The seller, at their sole discretion, will be able to accept or decline your retraction request,” eBay wrote.
Under the new policy, if a person places a bid on a trading card and the seller refuses to reject the bid, the person will be required to pay for the card if they win the auction. If an item goes unpaid by the 5th calendar day, the seller can cancel the sale and the would-be buyer’s account may be punished. While eBay did not state why this change was being made it seems that the change is aimed at preventing people from making bids to drive up the price of a card and then canceling their bid after the fact.
“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,” eBay wrote.
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