This feature was implemented as Groups.
Please check the following FAQ sections for more information:
http://www.myibay.com/login/faq/2/#q10
http://www.myibay.com/login/faq/2/#q11

Would be great to have a bid assistant like in myebay but with the sniper.

Example:
You snipe an item for X amount of money, if you don't win it automatically snipes the following in the group with a different amount of money if you want(in chronological order obviously)and so on, until you win one.

Thank you!