Hi guys I'm first timer using snipe and I'm a little confused. I was bidding on a musical equipment which was $300 that highest bid was $305 2 hours before the end. I had snipe to bid 5 seconds before the end and instead bid $310 or something low, it went up to my high bid $350.
Here is my information:

Bidders:3Bids:3Time Ended:Sep-26-09 11:34:48 PDTDuration:5 days

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Bidder Bid Amount Bid Time
megadarkstar82 US $350.00 Sep-26-09 11:34:42 PDT

t***j US $305.00 Sep-26-09 09:12:16 PDT

m***b US $301.00 Sep-26-09 03:32:32 PDT

m***b US $300.00 Sep-26-09 03:32:32 PDT

Starting Price US $300.00 Sep-21-09 11:34:48 PDT

Welcome to our forums.

This is reserved price item with reserve set at $350 by the seller.
So if your bid is higher or equal to reserve price, then eBay will put your automatic bid up to exact reserve (assuming, nobody else bid).

Please let me know if you have more questions.