Beating the last minute bidder (sniper) By just_the_faqs_ma*am

eBay does say that last minute bidding is perfectly ok.  But they have also provided you with a tool that you can use to beat that last second bidder!  It's called the proxy system and you can use it to make a proxy bid at the last *nanosecond* if necessary, and you don't even have to be at your computer to do it!  Here is some info about it:
 
Q:  What is a proxy bid?
A:  A proxy bid is when you bid more than the minimum amount required on an item.  Say the item starts at 1.00 but the absolutely Maximum it's worth to you is 15.50.  Even though you only have to bid 1.00 to be in on the auction, a smart bidder enters their maximum bid amount of 15.53 ( Or so.  Always add a few cents to try to avoid ties) and that's a proxy bid.
 
Q:  But doesn't that mean I will have to pay 15.53 when I could have gotten it for 1.00???
A:  No!  Your bid will show as 1.00 until and unless someone else comes along and bids.  You will NEVER have to pay more than the MINIMUM amount of your proxy necessary to win.  If nobody else comes along and bids, you win it for 1.00!
 
Q:  What if a last second bidder bids in this case?  Will they beat me because they bid last?
A:  No, highest bid wins, not the last bid.  The only way they can beat you is if they bid more than your proxy bid of 15.53.  For the sake of argument, lets say that the last second bidder wants the item for 9.02 maximum.  Remembering, that as far as they can see, the item is at 1.00 with just one bidder (you).  They have no way of knowing if you bid just 1.00 or if you bid 100.00! (your proxy bid is private!)  So they enter their bid of 9.02 at the last second and guess what?  You won the item for 9.52!
 
Q:  How did that happen?
A:  Because your proxy was higher than the last minute bid of 9.02, eBays proxy system automatically bid the next increment up for you, just like you would have if you had had time to (50 cents more in this case) and so you won it by actually 'bidding' at the last nanosecond, by "proxy"!  You would have been willing to pay 15.53 for it, but you got it for 9.52, and you beat the last second bidder!

And that is how the proxy system works.  You can place your proxy bid at ANY time during the auction.  You can place it in the first minute or the last second, the choice of how you bid is entirely up to you!