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Bid below increment -- but bid much higher than final?

Not sure what I'm missing. On eBay item Item #: 141082868970, I had entered a snipe with a maximum bid of $18.00.

When the auction ends, I've gotten a Bid Below Increment message, and the item's final bid is $7.50. I'm not sure how this could happen? Wouldn't the bid at the time of the snipe be at most $7.50 with an increment $0.50? Any suggestions?
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