After many encounters with losing out to an item, i have now decided to share how i have managed to buy auction items with many other bidders fighting for the item.
When it comes down to the last few minutes, open up two windows with the same item on both. On one of the windows, click the place bid button, but do not do anything else. On the other one, keep refreshing the page, too see the current bid. As the end time approaches, keep refeshing the window, and keep an eye out for the bids going in. As the final seconds approach, place a high maximum bid and confirm it. Hopefully you should of now won the auction.