I tried this today and was outbid. I am not happy with the software.
Please refund my purchase.

It has been five days and all I have are crickets from you. When can this be done?

Hello Karl,
Thank you for your question about item 405164313117. Yes, as you said, you were outbid. That is because your bid was too low.
In order to win an item, you must to be the highest bidder. You bid $401.01, but the item closed for $405.01.
The minimum bid increment in the $400 range is $5. So this means that the high bidder probably had a much higher proxy bid anyway. Only eBay and that buyer know what that bid was.
Please note that this policy has been in effect since you joined eBay in 2001.
More information on proxy bidding can be found on eBay here:
https://www.ebay.com/help/buying/bidding/automatic-bidding?id=4014
Unfortunately, we can't give a refund since the service is definitely working properly. Please let me know if I can help further, and thank you for taking the time to write in.