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Speaking strictly from a buyer's perspective, sniping and bidding at the very last minute is the best way to keep the price from getting bid up and up too early in the auction. When buying, I always bid at the last few minutes so that I do not tip my hand and bid the price up early, especially if the seller has not appropriately labeled or described the product or mis-spelled the product description, which may mean that other people who would possibly be interested may have overlooked the item.
As a seller, I believe in setting a decent minimum bid so that someone does not luck into my item and get it for peanuts. I currently have seven items up for auction right now on ebay including some old digital video cameras and still cameras, and accessories and luckily I have a bidder for almost all of them, including the higher priced items. I do have 10-13 watchers however for these items, so I suspect- and hope- that in the next 24 hours remaining that the items will be bid up substantially by others who like to snipe. My Canon XL-1 video camera and accessories already has a bid for $850 (my minimum) and my Sony VX-2100 and accessories has a bid for $510. Also selling Canon Digital Rebel, a Speedlight 540 EZ Flash and some other video and audio items. Current total bids for all seven items are nearly $1700, and with snipers, I hope to clear as much as $2000 or more!
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