Well it depends how badly you want it, some people if money does not really matter will just bid what they are willing to pay (for example £100.00), then buyer B tries to outbid buyer A by putting what they are willing to pay for it (in this case say £50.00) with only two bids the item now sits at £50.00.
Yes it's frustrating, I always only bid within the last few seconds, but miss out quite often
Although that Collectors Edition is much sought after now