If you have bid you can retract your bid. The reasons are limited, however.
Go to the Site Map at the bottom of this page. Click. On the left side of the page near the bottom you will find Bid Retractions. Click and choose the appropriate reason.
Remember that your retraction will show on your feedback page.
OR
You can email the seller and ask politely that your bid be cancelled. Most sellers will agree, since they do not want unpaid sales. This will not show on your FB page, but the seller may Block you from ever bidding with him again.
BUT
If you have already won, the only way to end the transaction is to ask the seller for a Mutual Cancellation. If he allows this, agree promptly and leave poistive or no feedback, since he was being cooperative.