I do the Buy it now/best bid as a rule of thumb i will occasionaly "bid" but i dont do what others do and just sit there wating for the last few mins to bid.. Il just stick in my maximum im willing to pay and leave it. No point in me sitting there wating for the last second lol. My maximum is my maximum, and it seems to me if you sit there wating till the last few mins to start bidding all that is going to do is coax you in to going over your maximum to win the item because you have been sat there all day watching a stupid timer.
Use a sniping program... I use
jbidwatcher. I simply input the auction number and my max bid then get on with my life... when I come back after the auction has ended I discover if I have bought the item or not.
If you bid your maximum early on in the auction you will probably find that other people will reassess what
their max bid will be.
Anyway, back to the topic at hand. I looked the auction up as I was interested to find out if it was a Commodore or Amiga Tech. (it was an AT)
This is a good example of a bidding war, 3 people were obviously interested in the computer offered. It looks like a very good (and somewhat maxed out) computer and the seller was fairly honest in the description (but could have included more/better photos).
Not going to comment on price because I don't really care (and the house rules). Also, the computer may re-appear next week with "relisted due to non paying scumbag" appended to the description.
But I will comment on auction houses that sell classic cars as that's something I have mixed feelings about.
I was always interested in muscle cars (an intangible prize is offered to anyone who knows what my avatar is a photo of

) and in recent years have noticed in that community people claim "I just simply can't afford not to sell this car" and then the vehicle leaves the owner and is purchased by a "collector", someone who will never drive, has no emotional connection and knows very little about their cars except that someone else told him it's "cool".
On the other hand, the insane prices achieved at auction has brought out some of the really rare cars that otherwise would never be offered for sale and the increased sale price has also increased the usual restoration budget saving a lot of rare and historically important vehicles from the crusher. And it is very important for the community to know that these machines still exist - the polar opposite is the crushing blow when
yet another classic is destroyed in the action of some worthless hollywood movie.