Richard,
I know you have two other Patersons but I would not retract the bid (if that is even possible). Yeah, it is laser engraved but still very nice in my estimation, especially with the accoutrements. Still 4 more days until the end of the auction. As Dave pointed out, the powder flask alone is worth half of your(?) bid. Think about getting a nice fitted case for it and it would be worth quite a bit. To me, not a shooter but a closet queen.
I would bid on it with stimulus money but I have to think about saving nearly all of that because of extended family concerns during this pandemic.
If you can afford it, go for it.
Regards,
Jim