I won an auction on eBay but don't want to buy it

Okay, here is what happened. Last night, I went to eBay, put bids on 3 different iPhone 5 auctions and won 2! But I only need one! What should I do? I searched it on eBay and it said my account would likely be suspended. Any ideas?

You will have to retract a bid from the highest winning bid price. The seller can give you negative feedback though.

EBay says the following about changing your mind about an item you won:

I won an item but no longer want to buy it. What should I do?

A bid or purchase on eBay is considered a contract and you're obliged to purchase the item. However, if you feel that you have a legitimate reason for not buying the item, you can contact the seller and explain your situation. Many sellers are willing to work with you if you communicate with them openly and honestly.

If you haven't done so already, request the seller's contact information, explain the situation, and see if they're willing to cancel the transaction in the Resolution Centre. If the seller opens a case, you'll receive an email asking you to agree to the seller's request to cancel the purchase. Make sure you accept the seller's request promptly.

If the seller doesn't agree to cancel the transaction and you don't pay for the item, an unpaid item will be recorded on your account. If you get too many unpaid items recorded on your account within a short time period, your account may be limited or suspended.

Do you want to return an item?

If you've bought an item and you want to use your right of withdrawal under Distance Selling Regulations to return it, you can initiate a return in our Resolution Centre if the seller offers returns.

According to Distance Selling Regulations, consumers who purchase online from a business seller can usually cancel the contract and return the item within 7 working days after they've received it. Learn more about how to return an item on eBay