Ethics of last minute auction "poaching"

I attend regular auctions during the normal course of business. I'm in the car business and auctions are part of it. There have been many times I've been outbid by last second bidders who wait to see if others, including myself, have bid less than what they ultimately will pay. The auction process is interesting to say the least; emotions play a big role and there are many times when someone will pay more than they wanted to just because they figure they're "in for a penny, in for a pound" and so they stay in the auction longer than they should and pay the price. The secret, if there is such a thing, is to calculate what you are willing to pay at most for what your bidding on and have the "balls" to walk away once the price exceeds that figure. Auctions can be fun. Once in a while you might get a great deal on some piece of equipment that's worth more to you than it is to others. It's not a life or death siuation and remember this is supposed to be fun!!