I alluding to your actual bid, for somethng that may have demanded a price close to what it went for.

My case was about myself and bidding stupid to foil snipe attempts.

Fortunatly someone pointed out the flaw before someone got hurt. (me)

I assumed no one else would be as silly as me and bid $100 for a $20 chip. But as usual, if one person has an idea, it's possible someone else will think of it too.

Best thing that could happen for me would be having an auction and have two people that decide to outbid each other, because they aren't going to be around for the close.

A proxy bid should operate the same as a snipe, in theory, but I'm wondering about that 10 seconds or five seconds thing. If I'm high bidder with a Proxy and someone outbids me, but hasn't reaced my Max. yet, does the auction just close?

Also how does the sniper software manage to bid high enough, without making an excessive bid, which some other sniping software will detect and create a critical mass?

5 seconds isn't enough time to allow for a counter bid?

There's something wrong if there are two or more snipers working at the same time, and I'm sure that has happened. The higest sniper won't win, but the last bidder will.