I would bid only if a player has less than 2 minutes with no offer.

If another bid that one too and he didn't place a bid on round 1, I will bid on the last second of that round. This is enough to win on two tokens as when they see your bid it's too late to react.
If he bid early on the first round, I will not bid and accept the token lost letting him win with 2 tokens spent, because the minimum of winning becomes additional 2 tokens in that case and there is no maximum, which to me is a waste of resources.

The worst case is an annoying bidder that, still leading a bid on the last round, bids at the last second of the next round. This nonsense is a big waste of token. If you desperate about that player bid early on the next round to avoid a fight. Bidding on the last second only works if you are behind, and nobody have bid on the newest round yet. If you bid as soon as the next round begin, the bidding on last second will do no good and those seeking for cheap deal would leave by then.

If you'd spend more than 12 tokens per player I suggest you buy only from nego instead.