I think the frustration comes from seeing someone over bid you by JUST one increment in the last seconds. You think "If I would have only bid a few cents more or just ONE dollar more I could have had it." the problem is that the snipper may have bid a LOT more than he got it for.

If someone overbids you a day before closing you feel an opportunity to bid again and get it back. All too often you bid a few more incriments only to find you are still out bid and it's more that you wanted to pay anyway so the satifaction is, "Well, he wanted it worse than me and I made him PAY for it." You don't get that satisfaction when being sniped. Sniping is NOT bad for the buyers it's BAD for the SELLERS. It keeps their items at a lower price rather than a "price war" between bidders -EVERY seller LOVES that!!