This has been suggested before but i couldnt find the thread to bump it. Currently the auction house says short, medium, long for the 'Time Left' column of items. Please make the time more specific, preferrably in the format 1d 13h 25m, it has the same character count as 'Very Short' so widths would not need to be changed. With the current system, if the time left is short, someone would have to check the auction house every 5 mins, if it was medium, they would need to check the auction at least every hour... it is annoying.
I cant think of why it is the way it is; maybe because people may play the game more if they are having to check the auction house constantly.
If you are looking for an old post, then just use google to do a quick search for the topic. It's fast, easy, and best of all you don't flood the forums with multiple posts of the same topic needlessly.
As for the OP, Auction house times are not exact so that people don't wait until the last 1-2 seconds to post a bid and raise the bid price infinitesimally. If you want to take the risk and bid on something, then you should put in the time and wait on the auction instead of taking the easy way out and waiting until that last moment to bid.