Should I politely walk away from this one?
I believe "snipers" in on line auction are defined as people who wisely wait for the very last second to bid. I believe sniper protection scripts are written so auctions can close a configurable time after the last bid and the designated closing time.
Sniper scripts could be written for the opposite purpose too.
If you do much auction buying and selling, it can be a real cash saver. It's not that dodgy, it just automates the same process people go through by hand any way.