Bid retractions make me suspicious because I know there have been cases where shady people used that to find out what a reserve price was or what the current high bidder's max bid was.
Also I have seen bid retractions like this:
bid entered: $55.99 -retracted. "reason: entered wrong amount"
new bid entered: $21
yeah..
I don't think the retraction option is meant for those kind of changes, randomly lowering your max bid, but for very special situations like if someone meant to bid 10.99 and typed it as 1099!
Or has that changed?
I think it used to be possible to check out a buyer, see how many bid retractions they had made, but I can no longer find that feature.