I helped them test the system when it was still in beta and EFalardeau is correct, the Axiom system will allow you to enter your maximum value, and will increment as necessary. (Unless they have since removed it)
Example, you are willing to pay up to $250 for the Bid Item? Enter $250.
CompetitorA bids $100, your bid should automatically increment to $101.
CompetitorB Bids $225, your bid should increment to $226
CompetitorC Bids $300... well, no help there. You lose.
That way you don't have to be at your keyboard watching the item all the tiem. However, please note this doesn't safeguard against last minute hawks. If CompetitorC above bids $300, and CompetitorD sits and waits and with 1min to go Bids $301, C is out of luck.
They key here (and at eBay or other) is to either:
A) Bid the *most you are willing to pay and not 1 dollar less* and if someone else goes higher, accept that you didn't want to pay more.
B) Do the last minute thing. If you are willing to pay $1 more than the going bid with 2min to go, then do so. However, you can still get beat if a previous bidder had a higher Maximum.
Aren't online Auctions FUN!