1.1 As a seller, if you have been wondering why you are not getting the best prices, or even good prices on your auctioned items on eBay, here is one major reason:
http://www.bidnapper.com/
This is software that allows the user to snipe an auction at the last second. What it means to the seller is clearly advertised by the company in the list of advantages of using the software:
"Hold prices down by not bidding throughout the auction".
Thus, unless the previous highest bidder was knowledgeable and bid up to the actual market value of your item, he is going to be outbid at the last moment without a chance at a higher bid, and more than likely the item will go for much less than what you were hoping for. Some buyers do not use the software, but bid themselves during the last few seconds, with essentially the same effect.

1.2 As a buyer, if you really want the item, but are not sure what the market value is, you are disadvantaged in three ways: (a) If your bid is low, you are going to be outbid at the last moment without a chance to come back. (b) If you overbid, then the last minute bidder (or possible shill) may likely push your bid up to a level that will make you unhappy. (c) If you use the software yourself to snipe an auction, or you try sniping manually, you may end up just above the previous bidder who was knowledgeable and already had a high limit on the auction, so you catch no bargain, but you have either wasted money on the software or wasted time trying to catch that last minute.

1.3 Live auctions continue only as long as bidders bid up the price (except for silent auctions). This is very different than the Internet auction environment where time limits pile up bids to the last minute as in a bicycle sprint race. Buyers may miss the auction because they wanted to wait till the last minute, and this is bad for sellers as well.

Which all may indicate that Internet auctions may have real value only when very knowledgeable sellers and buyers meet at the same items, or at times, to "move" deadwood items to whoever places a bid. In my next post on this subject I will try to examine other aspects.