Why do people start bidding wars so far in advance of an auction’s end?

I have been watching an item (a dustjacket for “Live and Let Die” by Ian Fleming) debating with myself whether or not I want to enter the fray but with a full day to go before the auction closes it is quite clear that a bidding war has already begun.

 

I have a 1st edition of this book but it lacks the dj and so I was interesteed in this item (even though it is not quite the same as the 1st edition dj) until I realised the bidding war had begun. In my experience these bidding wars that start days before an auction ends are started by buyers who lack wit. The key to getting a good buy on ebay is to wait until the last few minutes/seconds and place your maximum bid leaving any competitors very little time to outbid you.

 

Staring a bidding war days in advance, in my opinion, is foolhardy at best. 

 

Can anyone explain to me what advantage there is in starting a bidding war early?

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