I largely agree with you @nay1017. Glad EA was able to restore you coins (and then some it sounds like).
Without an in game ability to trade players to other league members to improve your league to help out a fellow league member. Sniping allows for the ability to "steal" a player that wasn't theirs to take. You yourself have to know that people don't just post million dollar players for 100 coins just for the fun on it. They are most likely posting them for a friend, family member, or league member to better their own team and get them off the ground.
The definition of auction sniping is the practice of a timed online auction where you place a bid that is likely to exceed the highest bid (which can be hidden) as late as possible, usually seconds before the end of the auction, giving bidders no time to outbid the sniper. If by sniping, you mean you are doing this and placing a bid at the last several seconds and winning the auction, then you are correct, this isn't cheating. However, if you are refreshing your screen and waiting for a player to post something with a buy now of a ridiculously low amount, then i'm sorry this is a form of cheating.
Either way you're doing it, I don't blame you, nor am I upset by it. I don't even judge you. I myself just don't agree with it and consider it a way to cheat the game to enable you to farm coins to better your own team which causes disparity within the game. I wish EA would get rid of the "buy now" feature and hide all auction bids (leaving a cap on the max amount that can be bid) and at the end of the auction, the highest bidder will win the player. It's the fairest way to fix all of the AH problems.