[bato]

Beaten to it.

Sniping is hugely frustrating and the main reason people either use buy it now or plain old ads (cf gumtree/Craigslist etc)

[aianus]

Why is sniping frustrating? How can sniping make me lose an auction if their snipe bet is lower than what I entered as my maximum?

[michaelt]

While it does not frustrate me personally, it does seem rather pointless to list an item for several days or weeks when the actual sale takes place in the last five minutes, and to show a 'current price' which has little relevance to the final price.

Ebay might as well call it a sealed bid second price auction and be done with it.