I bid at the last few seconds. I rarely lose. I'm talking 30 seconds and less. I throw out the highest amount. Even if they try to outbid me, it's too late. It works for me as a 'buyer'.
As a seller, buyers waiting until the last day, minute, seconds drives me batty. I'm sick of it.
Hence, my choice to list mostly Fixed Priced listings. So far, so good. First come, first served. Heck, it could be the same day I listed an item. As a seller, I like this and I think, many buyers like it as well. FP listings rock!