Posted By:
Scott RaaschI started sniping when I saw a lot of bidding by one person on an auction in $1-2 increments (or minimum increment) until they had the high bid. These were what I called "uneducated" bidders. They do not know their limit - they just want to buy the item and will often overpay. Sometimes they just get caught up in the emotion of "winning". Sometimes they would realize after the end of the auction that they went too high and would not pay. So I now snipe just to protect myself from the chance of one of these bidders finding the auction of an item I want. Do I buy cards at less than they "should" go for. Yes, sometimes. And I do feel bad for the seller in those cases. Heck, a couple times I actually paid more than my winning bid because I felt bad! But when I see auctions with 17 bids by one person, in minimum increments, and they end up winning at a price that is 2-3X an identical Buy-It-Now item, then I know that I must snipe to have the best chance to actually win an item at a reasonable price.
I actually sold a 60's Sports Illustrated for $37 once, when there were 3 identical issues for a $3.95 Buy-It-Now! 
Two bidders traded bids in minimum increments over a 3 days period.