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Question about AS's methods

I've just set up three snipes for 3 auctions which close in a little over 2 days. The current bid prices for all of them are rather lowish, like under $5. I've set all three snipes for large amounts - as I know the value of what i'm going to snipe.
My question is, for example, when the auction is near closing, and if the current winning bid is still, say, $2 and my snipe is set for $50, would I win the auction for $50 or just the next bid increment ($2.25) within the auction?

Yahoo auctions allow a user to either bid an exact amount there and then, or put in a proxy bid. That's what I'm wondering about AS's bidding.

If that makes no sense whatsoever do let me know and I'll try to re-phrase Smile

Thanks!
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