Yes that is exactly it- they are raising their max bid to make sure they get the item
ditto on the max bid. they want the product.
I reckon the top bidder is making sure no-one nips in at the last minute.
I have an item up for sale on eBay. I have 3 people bidding. A guy bidded up to $126.00 earlier today. Just 10 minutes ago my iphone went off from my (eBay app). It said someone bid on my item 3 times in a row. At first I was like awesome my biddings going up but when I checked it was still at $126.00???
I'm thinking they're just raising their max bid?