Making use of the waiting game is a tip that can be used in all penny auctions. It simply  implies that you hold out until the clock is down to a minute warning before placing your bid. You can still possibly be outbid by another person using the method but that is alright.

It is all part and parcel of developing good business practices in the world of penny auctions. If you want the item badly enough you will have to continue bidding but at least you have not wasted your money on bids that never had a chance of being in your favor.