That is the best way to do it. I did that recently to get my Featherweight and also a buttonholder attachment. That way you also don't waste a whole bunch of time sitting there. Either you win for the max amount you would spend, less and say Hurrah!, or know that you wouldn't have spent more anyway. If you are the high bidder in the end, you will also have gone down to the line on the last minute.
Originally Posted by Granna of 5
I have learned the hard way also. I now put in the max I will go on the item and then wait. If I don't win I tell myself I wouldn't go any higher anyway, but most of the time I win for less than my max bid. Sorry for your disappointment.