I use esnipe almost exclusively for ebay bidding. The best reason to use it is to create a false sense of worthlessness. If I don't have a bid placed on an auction, people have no idea I'm interested in the product. So, interested parties tend to not watch it as closely when there is little interest.

I love when someone bids on something with 6 days left and it gets no other attention until the snipe. They must be like "WTF... I was the high bidder for 6 days, then this mofo places a bid with 5 seconds left!!!" Those are the best.