*Warning semi-related rant*
People often get mad about snipers, they think its not fair. Not that it was mentioned in this thread but I hear it alot. How is it not fair? Every one has the same fair shot at bidding what they are willing to pay. Yahoo auctions have a cool option. You can choose to extend your auction by 10 minutes if someone bids in the last 5 minutes. I bid against a guy for 4 1/2 hours $1-$5 at a time. I finally let it go...
Sniping hurts sellers more than buyers. If auctions were extended with last minute bids they would probably on average sell higher. I'm surprised Ebay has never implemented this feature. If auctions sold for more money they would get more fees, its not like ebay to miss an opportunity.