The whole proxy bidding thing is a good concept in theory, but for some reason most people seem to have trouble working their heads around what it does exactly.

AMEN TO THAT!!! Like Bitt said, people seem to think eBay's auction model is going, going, gone where you can always outbid someone that bid above you. It's not, why can't people figure that out?

When I do bid early, always the absolute MAXIMUM I am willing to pay, but, there is always one person looking for a deal by nibbling away at my bid. Snipers also snipe to prevent this type of behavior. I have won many auctions sniping, and lost many as well, but every time I lost, it was because someone was willing to pay more than me for that item. Seems pretty simple to me...