multimodal commuter
Join Date: Nov 2006
Location: NJ, NYC, LI
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Bikes: 1940s Fothergill, 1959 Allegro Special, 1963? Claud Butler Olympic Sprint, Lambert 'Clubman', 1974 Fuji "the Ace", 1976 Holdsworth 650b conversion rando bike, 1983 Trek 720 tourer, 1984 Counterpoint Opus II, 1993 Basso Gap, 2010 Downtube 8h, and...
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But to answer Zaphod's question... I think esnipe is actually the answer.
Let's say an auction ends five days from now and starting price is 99 cents. If I put in a esnipe for a dollar, and a little later you bid a dollar, I think esnipe will immediately send me an email saying my snipe --which won't be made for five days-- is too low. And then, of course, I would just raise my snipe, rather than outbidding you right away; so it's not quite the same scenario as you describe.