Why did my bid not win this auction?

154776 2 1

Hello, I had a snipe scheduled for 2 seconds prior to closing on this auction. My snipe was $265 and the winning bid was only $262. My bid should have been successful. Can you please explain to me why it did not register?
Thank you,
Extremely disappointed
bro***roc
Hello Rocco,
Thank you for your question about item 392915683955. You did not win this item because you did not meet the minimum bid increment.
eBay adds what is called a "minimum bid increment" to the current price. They do this to honor the traditional nature of auctions, which is for the auctioneer to raise the price after each bid.
More information can be found here:
https://bidslammer.com/help/minimum-bid-increment/
Please let us know if we can help with other questions. We are happy to assist.
bidslammer