Yeah, basically you can sat the max you would like to let it bid for you. That items has 7 days on it, most won't bother bidding until that last couple hours, then there is always the ones that get in last minute to take it. Once in a great while I get a deal on something. But most of the time, I am not the winner.
I'm very good at getting second place which is annoying because it means I got the value right but some nutter was happy to pay over the odds.
No shortage of nutters
on Ebay, bidding beyond reason $$$ =
sometimes an unscrupulous seller may use an alias account/s (cough...) or 'friends' trying to get the end price pumped up (Bidders War)
or boozed up p0rn surfers spotting a shiny tool bargain, fired up in casino mode, determined to 'win' this time around
I put in my bid for what an item is worth to me, and check Ebay every few days for progress, and if a similar item is newly listed in case I lose or get outbid early by someone very keen
Better things to do to get the blood flowing that sit around playing sniper games
and last minute win
or lose
time wasting