Auction Bandit is an Ebay sniping application that acts as a front end for the Gixen service on gixen.com .
You need to purchase a very inexpensive account at gixen.com which can be either used from the website, or from Auction Bandit.
Auction Bandit provides an Ebay-only web interface to browse the site, and extra sniping functionality to add, list and delete snipes.
The gixen service runs from its own servers, so the iPad does not need to be on, or connected to the internet to perform the snipe.
Your ebay username and password is required, but it is only stored securely with your permission in the iPad keychain for maximum safety.