Good lord, some people really are dumber than rocks. I'm watching the iPod Nano bid and there was 15 seconds left on the clock and two people put in bids using the "auto snagger." So the auto snagger bids every time you're outbid, apparently no matter how long is left on the auction, either up to your predetermined price or up to your predetermined amount of bids.
That's okay if you're going up against someone that's bidding manually. There will be 3 seconds left, they'll bid, it'll go up to 18 seconds, your auto snagger will bid, it'll count back down to 3 seconds, they'll bid (if they want to), etc, etc, etc.
But apparently if two people are both using the autosnagger it just keeps bidding for each of them regardless of how much time is left, so I just watched two people bid about 40 times each (costing each of them about 30 bucks), all the while driving the timer up to an extra 20 minutes, ensuring that someone else will come along in the last 15 seconds and snipe it. Dumb.
