If you are the seller sometimes that last minute of the auction impulse to need an item will make people not realize that they just paid more for a used itme than a brand new one and you end up with more than you ever thought you would get.
One example I can offer is an aquarium I had laying aroudn the house that I decided to try and sell on Ebay.
I hoped to get about $80 for it, I listed it for $80 and next thing I know it ended at $167.50.
The next day the guy calls me and says his truck broke down and would not be able to pick it up until he got his truck fixed, then asked if it was ok if he paid for it.
I say sure that would be great and he comes by and pays for it.
This was about 2 weeks ago and I have not heard from this guy after several times trying to contact him.
I now have an old aquarium sitting in my basement that some guy paid for and has not picked it up.
Some people just get fired up at the last few minutes of the auction and have to have the item.
As a buyer it is definitely good to set a cap on what you are willing to pay, and once the price goes higher let the impulse buyers have their way.
