I used to bid early and often too. Never again. One night in 1999 or so, I had to go to work, so I bid on a nice autographed item that I felt was worth $150. There was a bid in at $60. So, I bid my $150 and went to work. I was now the high bidder at $65. I got home to check on my auction, and the bidder that I had outbid had bid up in $5 increments all the way to $135. It cost me $70 to place that bid. At the time I was putting myself through college delivering pizzas. I'd have made money by taking the night off and just sniping at the last second.
And I have been on the other end too. I've looked at a card and bid on it in the last couple of minutes. I see that I am outbid and all of a certain I am determined to win it. So, on a card that I put in a $150 max bid, all of a sudden I throw in a $250 max bid, or $300. And sometimes I would win. And overpay. Now, I set the amount on the snipe (I use biddingscheduler.com, btw) and I don't watch the auction. I win some, I lose some. But my bid never gets run up, and I never get caught up in the action and overbid.
Sam
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