Alan..exactly your bid is placed by a computer at almost the very last second.
You can have other snipers as well which is why even if you lose an item, you really don't know how much another bidder was prepared to pay. I always use a sniping program to bid and put in the very highest I am willing to pay, so I have no remorse if I don't win.
I use quicksnipe which is free and it has been almost 100% reliable.
Jeff
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