When you bid does the orange writing come up thanking you for your bid but you were out bid. Because that has happened to me and i found it to mean that the highest bidder bid a large amount but where it displays the current bid can only go up so far. It has happened to me, i bid 3000 on an item but it displayed the current bid as 600.
My advice would be that if this is really important to you then set a certain amount you wont go over and then keep bidding up in set increments until you reach the limit.
Yeah that's exactly what happened I was bidding from 1000 all the way to 6424 and I really was looking foward to bidding on this hoping I can get it I've been looking for this for so long :/ it's really messed up because no matter how high I'm always outbidded instantly it's ridiculous