Would you have bid more had you known you would not win at your current bid?
If the answer is:
No, You're not doing anything 'wrong'. The going price is just beyond what you are willing to pay.
Yes, You are not entering the Max you are willing to pay. Don't bid for a bargan and hope to win. Bid for a win and hope for a bargan.
Luck to ya, and
to the forum.
p.s. Since you can't see the winners true MAX, you don't really know how much higher you would have to go.