Even if the person has bid the highest they want to go, and wouldnt have bed any higher doesnt change the fact that there's disappointment when you expect the you have won the auction message in your My Ebay but instead you reralize you were out bid at the final 5 seconds.

Then theres the other issue of thinking about the chip a you get outbid, and realizing Hey, i really want that chip more then i thought.

We've all gone and bid again after we've already bid our high bid.