While I've sniped in the past - and won sometimes - I'm all for the additional 5 - 10 minutes following the last bid. The seller is entitled to whatever final price that's bid so if someone is willing to up the ante during the 5 - 10 minute extended period, that's OK with me. With either kind of auction, the seller should establish a reserve price that they're willing to accept. The buyer should set his/her maximum bid and stick to it. I often look at auctions where there's a reserve price and the starting bid set by the seller is more than the item is worth. I laugh, shake my head, and move on. Unless it's something I'd really like to have! Then I snarl, curse...... and curse some more. THEN I move on!
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