I have decided to try this feature; when I selected 3 for the enhancement, the following text appeared below the selection box:
"Attempt 2nd bid if your snipe is within US $ 3.00 of winning."
As my max bid is 25, the "enhanced" bid should top out at 28. We will see, the auction ends in less than two hours.
Oh, a big NO on the ""never lose" feature"!