[DRNewcomb]

Here's how I bid on eBay auctions.
1. I never bid more than tiwce. A low bid first only if no one else has bid.
2. My highest bid just before the auction closes.

If someone comes in and bids higher at the last second I just take it as a sign that I was not supposed to get that item.

This way you avoid the stupid bidding wars where someone pecks at your bid until he gets 10c higher.

I dislike eBay's "proxy bidding" system. I would prefer sealed bids, where everyone enters their best and final bid once and then waits until the end to find out who entered the highest bid.