Rob – That’s a good point. I too often place snipe bids hoping/praying it doesn’t take that max bid. In your example, that would be like me placing a $125 max bid on the $111.11 item (I previously said I won’t even go as high as $120) and hoping it wouldn’t go that high. If I place a max bid that possibly exceeds that value that I even place on the item – but place that bid to be extra extra extra sure I win it - I too wouldn’t go any higher. BUT, in my example no way was I going to lose placing a matching high bid, but still losing out - that just leaves a bad taste in your mouth.
