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Yup, even if you just adjust your autobid max, you lose all your seniority. "4 days ago" or whatever becomes "a few seconds ago". You may end up losing some or all units because of this.

Indeed, the lesson is "DO NOT EVER MODIFY A BID". As soon as possible after the lot opens, set current bid (usually $1 if you get it fast enough) and pick an autobid max, then NEVER TOUCH IT again.

Also you have a far, FAR better chance of winning stuff ultra-cheap in an auction that has a high number of units, than one with a low number or just 1 unit. If you want cheap stuff, focus exclusively on high-units auctions. Auctions are sortable by this in the dropdown menu in the interface, the term to use is "Quantity".
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You're welcome.

Summarizing, here's the recipe for success winning ultra-cheap stuff:

1. Choose only high-quantity* auctions (sort lists of auctions by "Quantity" in descending order using the list controls).

2. Place a bid as soon as humanly possible after the auction opens (minutes after is good, seconds after is better!)

3. Set initial bid (ideally $1 if you got there early enough), the max autobid you're willing to pay, and if applicable, how many units you want.

4. Once the bid is placed, DO NOT EVER MODIFY it. It is CARVED IN STONE. Hands off. This preserves your priority/seniority at any given price.

5. To help you achieve #4, remember there is NEVER ANY urgency, all items will be put up for auction again soon anyway, continually, so if you lose, just try again next time. Never modify your bid due to FOMO ("fear of missing out").

You may end up winning the number of units you asked for, or fewer units, or zero units. Que sera, sera. Whatever happens, happens. If you win, great, if not, just try again soon.

Follow these steps and, with patience, you'll get stuff super ultra dirt cheap.

(* = High-quantity auctions are desirable because if you get your bid in very early, then at any given price point, many people have to beat your bid before you lose all units. For example if the auction is quantity 1 and you set a max bid of $20, it only takes ONE GUY bidding $20.50 or greater to eliminate you. But if the auction is quantity 10 and you set a max bid of $20, it takes TEN GUYS bidding $20.50 or greater to eliminate you. It's far more likely for one guy to come along and do that, than for ten guys to do it. Pretty big advantage!)
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It does make a difference. Consider a single-item auction where this happens:

10:00 AM - Auction opens
10:01 AM - You bid with a max of $20.
02:00 PM - Some guy bids a max of $20, it doesn't work.
11:58 PM - Auction ends, you win.

Or:

10:00 AM - Auction opens
10:01 AM - You bid with a max of $15.
02:00 PM - Some guy bids a max of $20, you're knocked out.
02:05 PM - You raise your max to $20, it doesn't work.
11:58 PM - Auction ends, the other guy wins.

In both cases, you eventually make your max $20, and in both cases, the other guy makes the same bid at the same time.

However, in the first scenario you set your max to $20 very early, and thus you take precedence and win.

In the second scenario, you eventually make your max $20, but it's after the other guy has bid a max of $20, so he takes precedence and you lose.

High quantities merely mean more guys must bid higher than you, or bid the same max before you did, to cause you to lose. With quantity=1 auctions, only one guy must do that to cause you to lose. So high-quantity auctions improve your odds of success, but the same principle of "bid as early as possible and never modify it" are in play regardless.
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Hmm, I snipe a few on occasion, but it depends on what it is. Drew Estate is one I watch closely. I love their Undercrown Maduros. If I catch a 10 pack under 40, I guarantee you that I will snipe it.