I agree with the above poster who said its like lurking and stalking and lying in ambush. The thrill of the chase is half the fun of getting the widgit. So you have to take losing philosophically. I've lost a couple of snipes lately to higher proxies but when (in the last few minutes of the auction) I saw the bidding heading up towards my max I had mentally began to say "goodbye" to the widget anyway! At least I have the satisfaction of knowing I made the other person pay dearly for what they got. I am on a budget and sometimes I have to say to myself that if I win snipe 1 (expensive) then I may not be able to afford snipes 2 & 3 - but I have my "prize" to console me. But if I lose out on no 1 I just move along to nos 2 & 3 and have the thrill of stalking them to look forward to. That's what I'd compare it to for me - the hunter stalking his/her prey. And sometimes the hunter misses so the prey gets away or another hunter bags it. The new items may not be exactly the same (in my collecting category they seldom are) but I know that whenever I lose something else will be along to attract me in a week or so. So then the hunt will begin again.