However, in my world, you ask before you bid. That bid is your word that you will complete the transaction if you are the winner. I would rather take a financial hit than to not honor my bid.
The only time I’ve ever backed out of a potential deal was during a health emergency that took over a month of treatment to resolve, not being able to come home or even go to the bank. And it wasn’t a for sure deal that the guy was gonna sell to me.
I was waiting for a guy who got first dibs, to see if he was going to buy the item. Seller agreed to hold item for him until he got paid on Friday. I backed out on Tuesday, as I was in the hospital. And he was fine with it.
The first winning bidder flaked on the guy. I was second. I just couldn’t make it happen.
However, in my world, you ask before you bid. That bid is your word that you will complete the transaction if you are the winner. I would rather take a financial hit than to not honor my bid.