I heard my name calling ...
yes ethan9482 bid 165.01, but the previous high bid was £155, so with a bid increment of £5, the high bid at 4.48.09 PDT was displayed at £160, concealing the higher proxy bid.
At that time any bid of £165.00 or higher was a valid bid. A bid of £165.00 or £165.01 would have lost to ethan9482 (first in time in the event of equality), but the bid of £166.00 won the day.
Andrew