Why does Gixen always seem to be the maximum bid price

[garyw]

I have used Gixen successfully a few times but I always seem to win the item at (or just below) my maximum bid price - the latest to the penny. (the bidding history suggests that there is another bidder who bows out just before my winning bid).

I thought that Gixen used proxy bidding - it this just a coincidence or am I misunderstanding how Gixen works

[Cupid]

eBay uses proxy bidding, Gixen submits you maximum bid to eBay just before the auction ends.

The way that eBay works you only have to pay a maximum of one bid increment more than the maximum someone else was prepared to bid.

If you are winning at, or near, you maximum it means that other bidders were prepared to pay nearly as much as you.
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Mark