Wrong sell price put in auction, what can I do?

[citizen57]

I don't know how it happened but I miss-keyed the sell the in the auction field by an error 99 dollars.  It should be 99.95, but is only 0.95.  I put a BIN of 124.99 and the BIN option is not even showing up in the auction.  Now the auction has 1 bid on it, I am hesitant to cancel the auction in case I violate some policy.  the listing is http://www.ebay.ca/itm/171785013065?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649

Thanks

[38e_avenue · Accepted solution]

Just cancel it here: http://offer.ebay.ca/ws/eBayISAPI.dll?EndingMyAuction

No policy violation, but be careful and DO NOT choose the "sell to high bidder" option 

[reallynicestamps · Accepted solution]

Cancel the bid.

Then cancel the auction.

Otherwise you will be deemed to have sold the item to the bidder at the opening price.

Sellers can cancel listings pretty well for any reason. And Block buyers too.

It would be polite to let the bidder know what is happening, in case he made a reasonable bid and was not just bottom feeding.

[recped]

It will sort of be deemed to have been sold to the highest bidder anyway (sort of).

Sellers can end one Auction per year (that has received a bid) without any penalty.

After the one freebie you pay the fvf as if you sold the item to the then high bidder. Of course if the current high bid is only 95 cents the penalty if imposed is a huge 10 cents or less!

It would definitely be good to inform the buyer that you will relist with the correct price prior to cancelling their bid and then cancelling the the listing.

Use relist when you put it up again so any current watchers will get a message that it's gone up again.