Quote History Quoted:
So how does it work? Seriously asking.
Buy bids? Then pay the winning price?
How much are bids?
View Quote
Same thing as all the others ones, commonly known as "penny auctions"
You have to buy a package of bids, usually around 15-30 cents a piece. They give you "50 free" bids to start with but you can only use them on a special area with really low dollar stuff to rope you in (the same area where you are a guaranteed winner!!!!) its usually not even actual auctions, just setup to mimic them and have you be the winner, no one else is actually bidding on the items.
In the actual site you place one cent bid increases, costing you 15-30 cents at a time, and you don't get that money back if you lose the auction. So when they sell a $500 iPad for "$30" they are making $900 in bid money, plus the $30 the winning bidder pays for the item.