Ahh, ebay bidding. I've enjoyed it... five times. Shadowrun books. Mostly from one auctioneer getting rid of his hobby when I started.
Never had a problem with getting outbid unexpectedly.
No, I've fully expected it. But I know human nature. And I know the way ebay bidding works... so I ninja'd. Getting outbid makes the human mind re-evaluate what they're willing to pay, so they may put in a higher bid if time allows.
So... one last-minute bid may or may not "win
" but it does help keep your obsessive-compulsive nature in check.
It's automated bidding that favors the bidder anyway. It'll hit the minimum bid up to your limit. So, I'm leveraging against people who put a low limit, inaccurately reflecting their desire for the product.
So, other than human nature to try and game the system, there's no reason not to stick with your original limit. And with human nature, there's no incentive to bid early.
But I still got that wild gleam of perverse joy out of seeing a bidding log showing another guy posted 2 bids after mine, both lower than what I was willing to pay. "Hah, denied!"
Juuuuust before realizing the guy had cost me about $2.