Such an autobidding is meant to keep the price as low as possible so no other can place a higher bid. I have read auctions where sellers say "no snipers" because that way the end price will not be hign enough.
An example : seller Mr_Greedy sells an A2000 with a starting price of 1 USD. He has a friend or another account which is meant to raise the price as high as possible and waits for buyer Mr.Goodguy to place a bid of, let´s say, 30 USD. Mr_Greedy thinks it´s too low so he bids 35 USD hoping that Mr_Goodguy will raise his price too to get that A2000 and places a bid of 40 USD ...
Let´s say Mr_Goodguy wants to save money and uses such an autobidding program, also known as sniper, and has it placed a bid 5 seconds before the auction ends. Think you know as well as I do that Mr_Greedy has no more time to place another bid to raise the price, does he ?!

So autobidding is a good way to get something as cheap as possible :lol: It´s a bad thing for sellers but that´s not your problem. And yes, I too sell things and I too see who uses a sniper or not, but I don´t mind as this is part of Ebay :lol: