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(This is assuming you're talking about online auctions that are similar to eBay.) I would guess that most people simply constantly watch the bidding starting at about 30 minutes before the auction ends. If someone outbids you, simply outbid them at the last second. Of course, it's better not to have a slow connection at these fast-paced bid-offs.
As far as automated programs that do this for you, I haven't a clue.
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If you're flammable and have legs, you are never blocking a fire exit. - Mitch Hedberg
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