You tell your proxy (eBay itself) what your maximum bid is and it bids on your behalf.
Yes, I agree.
But what if I put in my max bid, find out it's not enough, and then after some soul searching decide, "Well, OK, I'll go a little bit higher." I don't think I've ever actually done that -- but I would resent not having the option to do so.
category of auction warriors who are more interested in the battle than the prize
I have to confess that I do enjoy the excitement of the auction process, which is one of the reasons I like to bid-snipe. "Will it be enough? Did I cut the end time too close?" That sort of thing.
Considering that I rarely bid on anything that sells for more than about $30, it's pretty cheap entertainment.
tanstaafl.
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"There Ain't No Such Thing As A Free Lunch"