eBay sniping

At best, that is a stretch. A specified end time, is just what it means. eBay is exactly what a sealed bid auction is. A "normal" auction can theoretically go for days. An ebay auction ends at X:YY period. Those that bid early are just people that make a bid and announce what they bid. But those that place their sealed bids at the end are unknown until the end of the auction. Any auction, where there is any real interest, is ALMOST NEVER won by an early bid; making them essentially non-bids. Sure they do. Maybe some don't but many sealed bid auctions allow you to get your bid back and make a change. Until the end of the auction, you can do as you like. The auction you propose is: 1) one with a fixed end time that is published 2) has an extension period for x amount of minutes. There exists NO such auction in the real world. Only in your imagination for a format that you think will give you a better chance of winning. But the bottom line is, you don't win, unless you have the high bid. That is what ebay does; that is what any real world auction does. What you want is one that you can change your mind, essentially, after the auction should have ended. You want an auction where they auctioneer says, "Sold!" and you stand up and say, "I was sleeping. Give me one more minute."