If you bid with that attitude in mind then it doesn't matter if someone outbids you because if they do they are bidding more than you were going to pay for the item in the first place. Stop complaining and blaming the "auction system" or "snipers" or anything else for that matter.
This is exactly correct. As he mentioned, you people are going in with the wrong mindset. If you put in 100m and get sniped with a 105m bid, it is not because there's an annoying prick out there who just wants to get at you. It is because he values the item more than you, so shouldn't he deserve to win it? One more thing that I think many people don't know about the proxy system.
If the current winning bid is 10m, and you put in 100m (your value of the item), THE NEW WINNING BID DOES NOT APPEAR AS 100M!!! It appears as 10m x 5% = 10.5m. The Auction House keeps your max bid a SECRET! So even if someone out there wants to snipe it, he does NOT know that he has to put at least 105m. In the final 5 seconds, he may put in 70m, which SHOULD obviously be high enough, right??? I mean, 70m for a 10.5m item??
INCORRECT!!! You have just won it for 73.5m!!! Which is still 26.5m less that what you valued it!
It is a scorching day, you are thirsty as hell. Someone has an ice cold Coke for sale. Just one bottle left. 3 people want it, so the seller opens an auction. All bids are secret, but the current highest bid will be stated.
You have $50 in your wallet, but you think, "it's just a bloody Coke," so you put in $3. A competitor sees that the winning bid is $3, and he really wants the Coke so badly, so he puts $10. You see that the new winning bid is $3 + 5% = $3.15. So now you know that someone else wants it, and your brain is also screaming out for some hydration, so you make a decision. DANG, I WANT THIS COKE AND I WILL PAY $9 FOR IT. So you wait till there's 5 seconds remaining, and you throw in $9, which is nearly thrice more than the current winning bid of $3.15.
And then... boom. You still lose, because you didn't know the other bidder actually put $10. That, my friends, is how AND WHY
the current AH system works fine. You put in your max, it keeps it a secret. If you lose it in the end, it just means that someone's secret was higher than your secret.
Don't think it works? I won my Barb's IK chest, trifecta ring and amulet with this mindset. I didn't snipe. I put in my max bid with about 1-3 hours remaining and even snipers couldn't match up to it. Did I have to bid insane amounts to achieve this? Amulet, maybe, but definitely not for the rest. I bid only what I valued the item to be.