I actually don't think this will change much. If someone is going to snipe, they will still submit a bid right at the end. And people likely won't have time to respond before the auction is over. I think extending the auction by 5 mins after every bid seems like the right solution. But obviously, you can do it however you like.
"A modern variant of the candle auction is used in some online auction systems to prevent auction sniping. In these auctions, a computer randomly selects the time when the auction will end to discourage snipers from attempting to enter bids at the last second. Indeed, Füllbrunn and Sadrieh show theoretically and experimentally that bidders submit serious bids from the start in candle auctions."http://en.wikipedia.org/wiki/English_auction#Candle_auction
