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S GrossOn ebay boxing cards (less collectors sometimes going after still rarer cards), I've seen 5x - 10x jumps in the final 5-6 seconds. Sometimes I see a ~$100 card sitting at 9.99 with a few hours to go. I may not need the card, but will take on a steal. So, I put in a $50 snipe. Now, when the auction is over, I see 2 or 3 guys had put in snipes and the cards goes for $150+. No big deal, I took a long-shot, and lost. But sometimes the long-shots hit.
Although the opposite has been argued, I think sniping can actually help the seller get a higher price. If everyone bid "normally" I would think the card in question would go for a "normal" price. BUT, if you get 2 or 3 guys putting in those "no one in their right mind would put a snipe in this high" snipe ------ then you get some crazy prices. I would say that in the those "Can you believe what this card went for" threads, this was the case.
Example: Leon (hi, Leon) won his $12 card for $10 with a $222 snipe. Now if someone else put in a snipe for $200, then he would have won a $12 card for $201.
Also with manual bids, I think you bring in more action to an auction. This is also good for seller, but bad for me as a bidder.
No one is right or wrong, what works for you is the best, but my philosophy is:
Survival of the fittest -------- Snipe or be sniped !! 