According to Wikipedia, Auction Sniping is:
Auction sniping is the process of
watching a timed online auction (such
as on eBay), and placing a winning bid
at the last possible moment (often
seconds before the end of the
auction), giving the other bidders no
time to outbid the sniper. Some
bidders do this manually, and others
use software designed for the purpose.
A bid sniper is a person or software
agent who performs auction sniping.
In domaining, the auctions usually refer to domain drop auctions like SnapNames, NameJet or Godaddy.
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