I don't use Ebay myself, although I used to sell stuff on it at work. There's a mechanism that can ignore any bids in the last 5 minutes. Though having said that it would seem to me that just puts the end of the auction forward 5 minutes.
As much as I would dearly love to get some things, such as an original copy of Reich Star, I am sadly too paranoid to ever trust some stranger with money. I once had a PayPal account I used to buy a book from an author once, but after that I was warned not to trust it and never renewed.
"I am the type who is liable to snipe you
With two seconds left to go, whoa"
Ebay song