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This is a good point. Ebay also allows for "second chance" where the seller has the option to sell the item below reserve to the highest bidder as a private buy it now for the high bid price after...

I've actually seen an auction site that does this. It extends the auction a minute after each bid, up to an hour, to take care of snipers.

There are two issues with ebay:
1. As far as I know, If I put in a max of $50, and the reserve is $40, but someone else only goes up to $10, I won't hit the reserve ever will I cus autobid would...