As I've been reading more about it, I understand it more... here's how it works.
Each bid costs you ~$1 (depending on how many "bids" you buy")
Each time someone bids on an item it goes up $.01
So if you bid 20 times and win an item for $1.37 you actually paid ~$21.37 for it, and all the other people who bid on it lost their $$ they paid for the bids.
So it works out great for the winner, and everyone else gets the shaft.
I suppose it makes sense. They gave me 5 free bids for registering. I wonder how high the SPAS-12 that's up for grabs will go.
They have all the legal stuff listed (FFL requirements, etc.), and a google search shows a few people HAVE had success... I'm not buying any bids though.
Right now the SPAS-12 is at $127ish, which means there have been 12,700 bids on it, at ~$1 per bid. So that means if it sold RIGHT NOW, the winning bidder would pay $127 + bids, and they will have sold it for $12,727.
Damn I need to make a website like this.