eBay Auction Tactics: Sniper vs. Max Bid

There are two styles of eBayers. One will snipe an auction at the last minute (eBay Sniper Street Fighters) and the other will set a price limit.  My strategy is simple. I find an item that I want and I place a maximum bid of what I'm willing to pay. If I get outbid, so be it. This all stems from a video game auction I went to where I set my max bid of $150 for a Street Fighter II Hyper Fighting machine. The final bid was $160. Kinda make me sick, but at the same time, it would have been difficult to bring home and move into 5 more homes that I would eventually live in.