I am frequently amazed at the times when I have an item listed at a low starting price which has loads of watchers but it doesn't sell the first time, but when I relist it, the item sells for far higher (i.e. £10.51 for an item that hasn't sold first time at 99p!). I think this is because people want to bid at the last minute to get the best price, but then forget until it is too late to bid. Another thing that happens, is that some items of mine appear to get early bids and then settle and sell at that price.
Bidding at the last minute is a good idea, but if an item has a low starting price, I would suggest you consider putting in a bid for the starting price early, just in case no one else bids, with the view of going back and bidding up at the last minute. That way, if no one bids, you get a bargain! Another thing to consider, especially if this is an item that you really want, is to bid early and put an automatic bid in for the lower end of what you want to pay for it. The upside of this is that your bid will get priority over later bids, so if someone else puts exactly the same bid in as you a few days later, your bid will be the one that wins!
I understand the desire to get the best price, but bidding at the last minute is not always the best way to get the item at the best price!