Quibids.com

Has anyone toyed with this site? You have to "buy" bids from them, and once you do, you can bid on items. If you are the LAST person to bid on something when the timer hits zero, you win the item at the price. But every new bid adds a few seconds to the clock, and a penny or two to the purchase price. It's almost like a continuous game of last second ebay buying. It seems addictive to watch, but it costs around 30 bucks for 45 bids. My buddies and I were trying to figure out an optimum bidding strategy, but I think any would be difficult.

It's worth checking out though: www.quibids.com

Because of the buy it now feature, if you actually value the item you are bidding more than they say it is worth (that is, you will buy it now if you don't win), this could work out pretty awesome. But if you just like the adrenaline and serotonin rush from constantly bidding up a product, watching it tick down to a few seconds, only to be reset, then you could lose a lot of money.

I don't think you could develop a bidding strategy besides wait as long as possible before bidding so you don't waste a bid. Let some other suckers pump it up in the early goings.

Beezid.com does much the same.

Essentially, the non-winning bidders are paying the savings for the winning bidder, and the company goes home laughing, as they get 60c for every bid.

Start a 1c auction at 1c, and if the item goes for a $1.01 then they've collected 100 bids, or $60. If it's a $30 items, everyone's happy! Except the people who bid and didn't win.