I think the difference is between whether you want the item vs. whether you want to get a good deal on the item.
If you want an item and are willing to pay what it's worth or a little bit more, it's good to bid early to "scare" off bidders just looking to get a good deal.
If you want to get a good deal, and don't mind if you lose the item to someone willing to pay full price... then you GOTTA snipe it.
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