This section gives you an overview of all items that you are currently bidding on.  If you are bidding on a large number of items, then you can search by either the items listing ID or keywords in the items title.

For each item that has been bid on you can quickly see the items end time and date, its current price (Amount) and your maximum bid (Proxy Bid).  

The Retract button allows the current bid to be removed/retracted from the current item.  This is only possible if you are the highest bidder and there is more than 12 hours left before the item is due to be sold.  If there are less than 12 hours remaining on an item, then it is not possible to remove your bid.