I do exactly the same - my one and only bid with 2 seconds to go. I see nothing wrong with it. If I bid with 10 days to go then someone will have 20 bids with £1 increments and go higher than they would bid normally. As a seller thats great but I'm not so happy as a bidder.

People wrongly assume eBay is a 'going going gone' auction whereas its really a 'sealed bid'-style auction.