Complicated answer. Again, you need to read eBay's explanation of proxy bidding to understand how this works.
Suppose your AS snipe is $200. Suppose the current high bid is $50, AND the current high bidder's highest proxy bid is $65.
When you place your snipe, the bid displayed on eBay will now be something like $67.50, or whatever the next increment is over the current high bidder's highest bid.
Understand? Your maximum bid will be $200, but your actual bid won't be that much unless it's necessary to keep you in the lead.