The idea behind auction sniping is to bid aggressively with perfect timing in a way that doesn’t give the other bidders enough time to react.Typically, a bidder engaging in auction sniping enters the auction at an extremely late point in the game. While other bidders will exchange bids back and forth for an extended period of time, the auction sniper waits until the crowd has subsided and then attempts to place bids at the last possible moment.
Since each bid extends time on the clock, sniping isn’t a perfect strategy. It seems to be somewhat effective in that other bidders can get very discouraged with the late entry of an aggressive bidder. The Sniper strategy is highly analytical. The Sniper watches, waits, and at the perfect moment, pulls the bid trigger for success. The Sniper understands momentum of auctions and evaluates the best times to be aggressive. This strategy can work quite well but often requires a good deal of penny auction experience, as well as a hefty stock of bids to execute effectively. The strategy sees good success but is not recommended for new bidders.
Their have been claims that auction sniping software is utilized by some bidders across many different auctions and auction websites. Most websites prohibit and try to prevent usage of auction sniping software but it appears that this type of software is still in use at some level. Some penny auctions have implemented features to prevent late bidders from entering an auction for this reason.