Have you seen this website? It seems like quite a business scheme. People bid on all sorts of products and the winning bid is always way below the value of the product - Macbook Pro for $4.01; 46' HD TVs for $30.75 etc. How do they do it?
They charge everyone 60 cents per bid and bids only go up 1 cent at a time. So for the HD TV there were 3075 bids x 60 cents = $1845 added to the $30 covers their cost and makes a nice profit.
Individually, the winner may have made 10-100 bids - but is $60 a big deal when you're potentially saving a thousand dollars? It's the bidders who don't win and coughed up $60 (sixty cents at a time....) that provide the profit, and they're probably so angry they didn't win, they'll try it again on the next one that comes up. Brilliant!
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I would have to think this will only exist as long as they get new bidders. Sure, there will be people who continue to bid on items and never actually getting anything out of it. But, I think most people will only do it for a short time before they realize they can't win. Of course, there will continue to be new people to the site, and once you get a cheap TV, you'll be making a lot more bids. Interesting. I'm staying away.
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