Auctions - why bid early?

I'm fairly busy on ebay and I have learnt, that bidding early makes no sense whatever to the buyer. I helps the seller though, because it mostly, as Rockvirgo says, raises the final price. I've learnt to hold back and wait, even callously and coldly snipe if necessary, if there is something that I really want.

One possible explanation is I think a lot of people like the fun of bidding on a "dream" item, like that Krell monster amp they could never afford. They can fantasize about getting it for a really cheap price. At least until reality kicks in. These are probably some of the same people who buy lottery tickets.

Interesting thought, Kinsekd, you may well be right! Cheers,