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First, after all the words above, accurate as they are, it comes down to this:
Sniping turns the eBay model into a sealed bid auction.
You can place your sealed bid at any time, to be opened only at the end of the auction. This is done all the time in the business world. I see no reason why eBay should be any different.
I never really understood the whole idea of 7 to 10 day auctions, anyway. For most of the watch related stuff I've ever looked at, the winning bid was placed within 15 seconds of the end. I never even bother to bid until the final day, as most auctions exceed my "Stein Point" well before then. But it's sometimes fun to watch.
With respect to the question about sniping software, I'm sure this happens on occasion, as and Joe K. says, the bids are still placed
as per the instructions of both bidders.
I can see a problem arising when two bidders have the exact same bid to be placed at the exact same time with the same sniping service. I would guess that this would then be the luck of the draw as to which bid eBay receives first. This situation probably doesn't happen too often.
Take care,
gatorcpa
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