as a buyer, when I'm the under-bidder, I've made the seller more money by forcing the winning bid to be more than what my bid was. Without it, the seller would have made less. And if I did end up with the winning bid, it would have only been more than the under-bidder to me. So that amount is what I'd expect to pay. And whenever I am offered a second chance offer, when pointing this out to the seller, I only consider offers that reflect that logic. Otherwise, I always pass.
All things come to those that wait, and for me,
the "hunt" is just as fun as getting the chip!