I think it does boil down to consumer ignorance.
Snipers, by definition, are more rational, making up their minds at an early stage of the process. This gives them time to assess bidding trends and to withdraw or increase their bid. It also allows them to look at other bidding "opportunities" if something "better" appears.
It removes most of the competitive element (I know I am as bad as the next man at a real auction - that's why I don't go to the local auction rooms!)
There is something quite "pure" in an all sniper auction - almost a theoretical "perfect market" where buyers make their guesses based upon their take of the current value of the item with no influence from other participants.
Still totally unpredictable though - I now know I am showing classic gambling traits for I love the thrill of the "chase" and the throw of the dice. It is an addiction and if I don't stop buying cameras, the office will either collapse into the kitchen or the wife will file for divorce!
