So what you guys are saying is that if my Proxy bid is $15.00 and someone else has bid $15.01 they will win and the 50c minimum next bid rule is out the window? Or as people have put it so clearly, the High Bid Always Wins!

A proxy bid can win even if it's less than the required incriment?

I agree with Robert, you can't sneak up on a price, unless you are lucky and happen to hit between the Max. bid and your bid. Often you will become high bidder, so there's no guarentee that you can get within a price and then drop.

So the theory that people are bidding up to within your bid, and somehow know it, may be flawed and impossible.

I suspect they bid a few times to test the waters, find it's more than they want to pay and drop out.