First off the person that won may have had a higher snipe bid so it may not have been that close. The other bidder may have had a $200 snipe.
Nope, if the winner had a snipe bid of $200, my bid would have been beaten by $2.50, not .34. The only way the winner's bid could beat mine by .34 is if the winning bid was his top proxy bid. Otherwise, the minimum increment required at the given bidding level would be added.
The winning bidder had a high proxy bid of $137.89, 34 cents higher than mine.