From Wikipedia: "Auction sniping is the process of watching a timed online auction (such as on eBay or Yahoo!), and placing a winning bid at the last possible moment (often seconds before the end of the auction), giving the other bidders no time to outbid the sniper. Some bidders do this manually, and others use software designed for the purpose, such as Auction Sentry and Ebay Sniper. A bid sniper is a person or software agent who performs auction sniping.
There are also online sniping services, such as AuctionSniper, AuctionStealer, BidRobot, Esnipe, Gixen, mySniper.com, PowerSnipe and SniperAgent, where the software agent is run from a website rather than the sniper's own computer. This decreases the failure rate of the snipe, because the website is expected to have more reliable servers that might be quicker to react."
Some people don't like to use sniping service, but I do. I often am not around when the auction is finishing, and this way you don't have to be. You sign up with them--enter the information which includes the maximum amount you are willing to pay, and then they do the bidding.
I would have called myself an auction hoverer, 6ut 6y Wiki's definition, I am a sniper. A manual sniper.