Manual Sniping first...
You don't need broadband, all you need is a browser that can open two windows at once and something to time your bids. Windows clock will do.
First sign in, bid on your item but do NOT click confirm. Now open a second browser window with the time remaining visible. I suggest the bids page, it refreshes the fastest and lets you see all your competition.
If you refresh your browser with the time remaining and take note of the exact seconds on the clock you pressed Refresh (F5 in Explorer) you'll be able to work out what second you need to press confirm to cut it as close as you feel comfortable allowing the snipe to go. Practice Refreshing a few times when there's several minutes to go, on the minute, to get it perfect. Then, when there are a few seconds to go simply hit confirm on your other browser window.
That's pretty much all there is to it. I have sniped things with only 1 second to go, although I generally aim for 3-5 seconds.
You might want to also consider researching your competition's previous bidding history if you have time. Simply go to Advanced Search (under the regular search) and see what they have been bidding on in the last 30 days. Often you'll recognise a pattern. I noticed once that someone would bid $5 exactly on all the auctions they bid on. I then bid $5.01 in the final seconds and managed to get it for the lowest possible price.
Perhaps you don't have time to sit around and wait for that auction to end? Perhaps it's in a different time zone or you'd simply prefer to do it automaticly...
Onbidder and Auctionsniper
Guarantee you win all you auctions. Bid while you are in bed or at the pub (or even on holiday.) set your snipes and forget about the auction. Using Onbidder.com and AuctionSniper.com you can set your auctions to snipe. I recommend Onbidder and Auctionsniper as they are easy to use and extremely cheap, try the free trial and see what I mean.
Its also useful when sniping to know how much to place your bid for. Always place you sniper bid using the next highest increment to make sure you bid just enough over the high bidder. For example rather than snipe a bid of $5, do one for at least $5.20 as thats the next increment.
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Don't forget that sniping is a risk, and if someone's proxy bid is higher than yours you will still lose the auction. The advantage of sniping is that it reduces the bidding frenzies that often push prices way above market price. Don't forget too, to check out the postage costs, insurance requirements and feedback of the person you're hoping to buy from. Most of all enjoy your eBaying :)