No, you cannot cancel or lower your bid. When a member makes a bid it cannot be retracted or canceled. Once an offer is submitted, the customer is obligated to pay the amount of the bid + all the fees that they submitted or authorize.
You can lower your maximum bid if the pre-bidding period has not closed and your maximum bid exceeds the current high bid.
All bids are binding and final. This includes all bids placed during the pre-bidding and the Live Auction and applies regardless of how or where the bid is placed.