Hello Brian,
Thank you for your question about item
133480771879. First you should read eBay's page on "Proxy Bidding."
https://www.ebay.com/help/buying/bidding/automatic-bidding?id=4014
To answer your question in more detail, the order of events is as follows.
1. On August 4, someone bid $179.99.
2. On August 7 at 12:34:41PM PDT, someone else put in a manual bid of a large bid, so the price changed to ($179.99 plus $2.50) = $181.49. This amount is taken from the chart at the URL above.
3. A few seconds before closing, we bid $251 for you. eBay raised the price to (your bid plus $5.00) = $256.00
4. There were no other bids, so it closed at $256.00.
We place multiple bids simultaneously from multiple locations as a part of the service offering, to guarantee the win rate.
Thank you for taking the time to write in. Please let us know if you have any other questions. We are happy to help.
bidslammer