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Lead time...

Lost an auction earlier this week due to "heavy internet traffic" Lead time was 5 secs. What is the recommended lead time? Can I lose an auction by being sniped after my bid goes in if my maximum is higher than the amount bid? For example if my max is $100 and I snipe it 7 secs out for $80 can i lose the auction for a snipe of $85 placed at 5 secs if $85 is the opposing snipers max? Hope that's clear. Thanks for any help.
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