Item number 320867959272.

I set up snipe at GBP 57.57 but the winning bid was only GBP 45.00

Can you provide some insight into what went wrong? I would hate this to happen with a major item that I was bidding for. I have used this application/service before successfully.

If you check the "My Status" field, you will see the following reason:
"Snipe is set too late, may not be able to execute"

It seems like you set your snipe too late. Please check the following FAQ section for more information:
http://www.myibidder.com/login/faq/4/#q5

Thanks for the quick response.

According to the FAQ

"The latest when your snipe must be ready (activated) is 3 minutes before auction is ended."

Which explains why it didn't bid as I entered the snipe between 1:30 & 2:00 before the auction ended. I assumed that it would be active immediately otherwise I would have just bid normally.

That's correct.