sniping?

[Bethany K. Dumas]

I ran into this term this week - is its use widespread? Here is a
quotation from a recent WSJ story about sniping on eBay:

---
After a few purchases, however, buyers realize that they get better prices
when they lie in wait until the last few seconds of an auction and then
jump in with a higher bid. This practice, known as sniping, doesn't give
other buyers the chance to reconsider their own bottom line and bump up
their own bid a few dollars higher.
---

The infinitive is <snipe>.

Bethany