Had an interesting experience on Ebay tonight.
I was highest bidder on an item which was WAY undervalued. So I logged on a few minutes before the end of the auction to see what happened, fully expecting some late action on the item.
Sure enough, with less than 60 seconds remaining, the price started jumping. Every 10 seconds the price jumped $10. With three seconds remaining, the final bid came in, this time only $5 more than the previous bid, bringing the total to exactly $1 below my maximum bid. So I won the auction, but I had to pay top dollar.
Examining the bid record, I see all the late bids had been made by the same person. This person had been registered for well over a year, yet had no feedback score, therefore had probably never bought or sold anything in this time.
Now I don't mind the price I got, but there is something too coincidental about a long-term yet inexperienced Ebay member forcing the price up to EXACTLY my maximum bid with seconds to spare. How would it be possible for a confederate of the seller, or the seller himself, to devine my top bid? Perhaps by bidding something obscenely large, observing the resulting price, and then retracting the bid? This all happened within 12 hours of the end, so it seems unlikely...
Do I call shenanigans, or am I being paranoid?