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I agree on sniping. I've been sniped in the past within as close a second to go, but I've also pulled off some classic snipes myself. If I get beat, I just consider it well played and graciously accept my defeat.
I only bid early on if the price is rediculously low and only do so to keep an eye on the item. I watch approx. 30 or more items all the time, but only throw a bid on what I'm serious about. If others bid the item too high, too early, I usually pass. This can be annoying when it's a hard to come by item. I've waited up to 6 months for some items to show back up.
But by far the best way to get the best deal is to throw that bid in with seconds to go.
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