Anybody here believe in that method for bidding in auctions? For those who don't know what that is, it's when you wait to the last minute (sometimes seconds) and then start to bid to see if you can win the auction at the very end (so that others may not have the time to counter your 'last bid').
I guess if your highest bid is just a little higher than the current high bid, then it would make sense to enter it at the last second so that nobody has a chance to counter it. But that 'assumes' the current high bid is the maximum that bidder is willing to pay.
The only reason this phenomenom occurs is because these auctions end at a ginve time as opposed to a live auction ending after 'all' bidding stops. That would be the best for a seller as everyone has the opportunity to top anyone elses bid.