+1 - Sniping was the standard back in the days and still is.The idea of sniping is that you won't arouse the interest of other buyers who might get excited and outbid you. When I was lazy I would bid my maximum and lose 90% of the auctions I wanted. Now I bid very late or put in a nominal bid up-front.
There's nothing really wrong about sniping though. It's how the game has been played since 1996 when I got an account.
If you think about it, if I were to bid on an item 2-3 days prior to the ending, another buyer has the time to incremental bid and eventually win (I know it's a little tedious to do this, but it does happen). Also, sniping benefits the buyers as it doesn't necessarily cause inflation prior to the auction ending.