Sorry Mark, but you are wrong. You only see the end price, you haven't a clue how much the winning bidder actually placed on his/her sniper. And in most cases it will be way over what you see as the £1 more than your bid.....I actually bid on an item [bidnapper] and lost the item. Yet when I checked the end price, my maximum bid was slightly higher. I was outraged at this and got in touch with Bidnapper to complain. But they explained that the bid increment was more than I had left to bid, therefore the other guy won...... Just out of interest, I contacted the winning bidder, and found out that he had bid a huge amount of money, above, the end price.
So there you go, snipers are a very usefull tool, but give absolutely no guarantee of winning, I can assure you.