Change my maximum automatic bid?

[640tigershark]

How come I can't change my mind on setting my maximum automatic bid if I'm the current highest bidder? If I'm the current highest bidder at $30 and I set my maximum bid at $100, how come I can't lower that to $80 (with days and days of time left)?  

[nubian_treasures]

Because each bid is a binding contract. If you "contracted" for $100, then you stay with that. There are a few valid reasons to cancel a bid but changing your mind isn't one of them. Additionally, making an invalid retraction is a reportable offense and the number retractions you make stay visiable for all the world to see for one year.