I've already seen people post high bids, and remove them a short time later when they weren't surpassed.
That is not going to happen any longer. Edits have been disabled in the auction section.
But we're all getting quite a bit off topic here. This really shouldn't be the place to discuss the mechanics and logistics of the auctions. I believe I have a thread about the auctions in the Feedback Forum, so let's take this discussion there, shall we?