I believe there are a fair number of people who just feel the need to be high bidder on auctions as long as possible. I have proven beyond doubt to myself that bidding early on an item is a waste of time (and money).
I bid early and my bid amount is almost always exceeded, often at small increments until the underbidder is top bidder. People have alerts available to them when they are outbid and jump right online and resume their position as the high bidder. It doesn't make sense to me, but you can't win that game and still get a bargain.
People seem to get more aggressive when there are bids already placed. Hold off and the activity isn't as great. In the end, auctions for good stuff are always won in the closing seconds anyways.
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