If eBay would go to the format Yahoo Auctions offered years back, this wouldn't happen. If the item ends in 1 minute, and a sniper comes in and bids, the auction is extended another 15 minutes. It keeps doing that until someone pays what they want to pay, and everyone else loses. No more sniping, and sellers get fair market value.
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'11 Time NXR Instinct / '79 Paris Sport by Moulton