How do I cancel an auction? You can cancel your auction if you decide not to sell the item. But please remember there are a lot of bidders out there that may have already placed a bid on your item, or who may have planned on bidding at the last minute. You may lose a prospective buyer by cancelling your auction. You will need to provide a reason why you are cancelling your auction. You may provide additional detail on the item description. 1. Click on "My Auction" link. 2. Click on "Cancel My Auction" on the Seller Tools section 3. Fill in all the required information on the form. 4. Click "Cancel Auction" button.