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Bidding on an item with no bids (HELP!)

Hi, I'm new here and have a question of some urgency.

I am planning on bidding on a somewhat pricey item with no bids and wanted to use the auctionsniper to do so. Now, there's a good chance that when the sniper does it's thing, there will still be no bids.

So let's say an item starts at $500 but I'm willing to pay $700. If i put in a snipe of $700 but there are still no bids when the snipe happens, does that mean i only pay $500 or will e-bay charge me $700?

Obviously, I don't want to pay $200 more than I have to so any advice here would be very welcomed. It's a great service you run here! Smile

All the best,
D
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