The 15 minute rule is pure bait and switch. Pull them in, get them to make a commitment with a promised closing time, and then move the closing time, prompting someone else to outbid them, then move the closing time again. It is bait and switch multiple times over! And it is WRONG!

There is no "15 minute rule" at a "live auction".
At a live auction, thirty seconds(?) after the last bid is made the auctioneer pronounces the item sold.
So saying that the 15 minute rule makes ebay/internet bidding more like a live auction is BS.

People bidding on ebay/internet auctions KNOW that the auction has (or is SUPPOSED to have) a fixed closing time.
Timing your bids, or sniping, is a part of the ebay/internet auction experience.

Saying the 15 minute rule is about fairness is just cover for someone trying to inflate their profits by pushing back the auction closing time to get a few more bids.

I was previously unaware that this kind of hanky-panky existed, or was allowed by ebay. Now, as a more informed bidder, I can be careful not to get involved in one of these skewed auctions.