Cos they are all waiting for the last minute to try and nick it for as little as poss rather than just making a single bid for as much as they think it's worth and pushing the price up. You'll almost certainly see a flurry of activity at the last minute, that's why its important to make sure it ends at a time when as many people as possible will be available to bid (and not at 11am on a weekday like muggins here did!)
For my money they should offer sealed envelope type bids for large items like this.
Beretta
