Yes, what good would it do for the auctioneer to outbid you at the last second without giving you a chance to up your bid? They get stuck with the item, no commission, and no buyer's premium.
That practice is called "bid sniping" or just "sniping." It's regular bidders doing it, hoping you're at your upper limit so they can outbid you by a small amount right at the last moment.
You placed an upper limit on your bid for a reason, that reason being if the bidding went over that amount, you did not want the item. So why get upset if you get outbid?
There are ways to combat sniping: Increase your bid at the last minute by just over the minimum amount, so even if they try to snipe you, you will outbid them and beat them at their own game. Snipe the sniper.
Many online auction platforms that local auctioneers use have an auto-extend feature which adds a minute, or 2 minutes, or 5 minutes, AND minimum bid increments, to the auction to discourage bid "sniping."
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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