"almost everyone has put in their best bid and gone to bed"
If you know an auction is going to end at midnight and you are the current high bidder, why not put in your best bid at 11:58 or 11:59? Then if you get "sniped" you will know the sniper beat your best bid? It seems like people who got beat late last night are lamenting they didn't place their highest bid but are blaming how the auction ended. I would much rather place my absolute best bid when I know it's going to be "out there" only for 1 or 2 minutes as opposed to some unknown or unstated auction closing time.
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