The problem with that is the naive bidder. I’ve had people come to me saying “I’m bidding on this, it’s at $100”. I may have a bid strategy involved myself already, or someone else I know does already. You can’t claim turf on an auction by claiming interest with a lowball bid.
If it’s an internet auction, I find the best strategy is to get real. If I can get a deal on a gun (20% under value) that’s great by my standard. I immediately bid big, get rid of the tire kicker interest, hope I chilled the auction. Does that work? About 1:3 it does. The longer an item is listed with joke bids at 5% of value, the more emotional investment 20 other bidders have with the item. Getting the bid into the realm of reality as fast as possible is how I get a shot at nice guns that are good deals.
Many people are looking for home runs (5% of FMV purchases). I don’t waste my time with those approaches. You win if you get on base a lot, not for hitting a home run once a decade.
But anyway, I don’t believe there is such a thing as a good deal in an ongoing auction, nothing is really until the hammer is struck. Talking about low current price with 24 hours remaining is just wishful hop