Yes, bidders are allowed by eBay to retract a bid

You do know if that filing cabinet thing you have listed for 1 cent only gets one bid, that is what you need to sell it for?

And that as you have no feedback as a seller for over a year, you are seen by eBay as a 'new' seller and as such all funds will be on hold

Have you fully completed sign up to managed payments?

Please make sure you are up to date with all the rules etc for sellers

If not, a retracted bid will be the least of your annoyances