I don't know if this site got the same idea as many of these other ones, but you need to bid amount that nobody else have. The lowest bid with only one bidder will win and that can be example 34.12€. Nobody of course sees what have been bided, but you will be informed if the current winning bid is less or more of what you just offered so you keep bidding.

With this system i have seen house being sold for 2400 pounds, Merc S series for 400 and site will still get huge profits. There was lots of talk about one of these sites that i belive was first one and there was legal battles. I wonder if they where allowed to keep going in UK in the end.