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I can answer this. Let's say it is £1.20 when you spot it, but you're prepared to pay £5. You watch it, so that when the auction nears it's end, you offer what you think it's worth if it hasn't reached £5 yet. Obviously this is particularly important to those who don't have a sniping tool...

Out of interest, why should he feel obliged to sell *his* property for a price *you* decide is appropriate?