what happens is a mnute or so before the auction ends, someone wil see the price at, say £80, and think it is worth £150. With a minute to go at £80, they know it will not get to £150 so they put that bid in..£150...that s their MAXIMUM bid but it does not show as £150, just as the next bid up.probably £85...Ebay now automatically keeps bidding up by increments for the £150 bidder until his maximum bid is reached.
With 30 seconds to go, you see the bid has gone up so put in £90 with seconds to go and think you will win. Unfortunately, Ebay ups the bid to £95 and gives the item to the person who was prepared to bid up to £150. They only pay the winning bid...not the maximum they were prepared to buy for.
If you seen a Ninja for example on ebay and knew it was probably going to go for in the region of £1000 give or take a £100 or so and you felt £1100 was a reasonable price to pay..put your bid in at £1100 from the start and every time someone bids, they will see they are not the highest bidder because ebay keep uping the bids on your behalf.
The majority of people get fed up with this and bin the auction for this item leaving you as the winner at whatever price it was left at.
If someone thinks the same as you and has bid up to £1150, you will will be told by ebay that you have been outbid and ask you to bid again. This is when you decide whether to up the bid or leave it.