Here is a good example of what can go wrong on a last second snipe:

http://offer.ebay.com/ws3/eBayISAPI.dll?ViewBids&item=3283752855

Goldplated and Arrowdice both bid the same amount but Goldplated's bid was made first so he wins the item. Way to go Skip!!!

Now all you good folks should take this as a good lesson and bid on my auctions right now....