In the "early days" of eBay when I first started using it, I got caught
up in a couple of auctions and bid more than the item was worth, and
more than I reasonably would have paid for it in a different situation.

After realizing that mistake and recognizing that a bidding war
can make me do such things, I follow a different bidding method now.
I make an initial bid early on, just so I get an email about the item
with an easy link to follow (I know I could just bookmark it too),
and to let other bidders know someone else is interested.  Then I wait.
I determine the maximum I will pay, and wait for the auction end.
Somewhere within the last 15 seconds of the auction, I place that bid.

My reasoning is:

- I bid only what I really want to pay, without the heat of a
  bidding war,

- Other bidders don't have time to get worked up and bid more than
  _they_ would reasonably pay, and

- If my last bid outbids someone else who wanted the item, then they
  really should have just bid the maximum they were willing to pay
  in the first place.

If someone uses a sniping service and puts a huge bid in there for the
last second, it's their problem if they end up paying more than they
wanted to.  I will know that at least, I did not.

Bill Mackin