Can I withdraw an item for sale if someone has made a bid on it? (Withdraw the item before the closing time/date)

[garyh3782]

I have listed an item at .99 cents expecting the item to sell quite quickly - however with 12 hours to go there has only been one bid. I am able to withdraw this item for sale before the auction ends, or now that I have one bidder, am I obliged to keep the item listed.

Thanks