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Early snipe cost me money!

Hi,

Maybe I am not understanding this properly yet, but I just watched the end of an auction that I had Auctionsniper set for 5. The bid went in with over 30 seconds left! At that time I was the high bidder @ $102 (no reserve). But since my bid was out there, it was run up in the last seconds to over $150! I still won the auction but it cost me over $50 from what I may have won it at.

What happened?
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