The idea of "you should put in a max bid and leave" only works if you are only going after 1 item or have unlimited resources.
When I am bidding in auctions I typically find I am interested in more than one item and I do have limited resources so I have to make sure all my current max bids don't exceed my budget. When I get out bid on one lot I can maximize a bid on another lot, but if I don't get outbid til I am in bed than I can not move my bids around.
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