On Saturday, January 12, 2013 9:38:04 AM UTC, Mike Barnes wrote:
Jim K :

"There is a vague connection (but no more than that) in that if you bid
*very* late there's no time to up your bid. "

But that is a very important distinction. If you bid very late then you really do bid your maximum because the seller cannot shill bid you (he knows there is no time for you to revise it). If you bid earlier the seller can shill bid you and raise you up to just beyond your maximum knowing that you have time to add just one more increment.