Just figured this out by accident, I dont think anyone had this strange idea yet ^^
You need 2 Accs. Acc1 puts any cool item into the AH (some epic stuff, decide on your own.) Startprice should be VERY low, just a few gold. Buyout should be WAY to high, so that noone buys it by buyout. Note the exact time when you put it into the AH, you will need it.
Now the funny part ^^:
Log into Acc2, about 10Minutes before your auction ends. There should be some dude have placed a bid on your item. Obviously, cause its cheap,this guy is freakin happy right now. Now overbid him, just a few silver more. Now watch the status. He will place a higher bid than you, once he regocnises. When he does that, IMMEDIATELY overbid him! He will think "wtf" and overbids you again. IMMEDIATELY overbid him again with a few silver, do this procedure a few times. Your victim will get in rage and overbid your bid just whenever he hears the auction-signal. NOW, overbid him with a freaking high one, like 1000gold. believe me, he WILL overbid. he doesnt watch the actual price while placing his higher bid cause hes in rage.
I did this 4 times today and made about 900gold . EPIC
