For ebay style, specifically defined end time auctions, I put in a bid at the beginning, then I bid above what the item is worth to me with a few seconds remaining.
If I lose, I lose, I didn't really want to win at that price.
If I win at my max bid, then I think about other items I have won for less than I was willing to pay and feel like it averaged out.
If I win at less than my max bid, that's best.
For extended bidding type auctions, I employ the same general strategy, but bid to the next bid increment as late as possible.
My last bid is the first bid increment above what the item is worth to me.
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