Bidding for Prizes

Now here's an interesting little site that's well worth a visit. To use it properly you'll need either some luck or a very good understanding of game theory. It's bid4prizes and it works in a rather unique manner.
It's an auction, yes, but not as you generally know it. There's things like big plasma screens and so on available for you to bid on, but it isn't the highest bid that wins. It's the lowest!
Well, nearly, it's the lowest unique bid that actually wins. So if there are two people bidding 1 cent, then it'll be the one person who bid 2 cents that actually wins, you see?
All you do is log on to the site and then select the item you're bidding on. Then you send an SMS (or text message) to them stating how much you're bidding. They will then respond as to whether you've made a unique bid and how many there are lower than your bid.
So it's not a single one shot auction, you're encouraged to try again and again.
Fascinating but I do think that those who win will in fact be those who best understand game theory, something I'm extremely bad at. Still, why not click through that link and try it out?
Now if I were in fact to win (perhaps one of those large screen plasma TVs, that's what I'd try to get, anyway) I'd simply keep it. No, it wouldn't go to charity, it wouldn't be passed along to friends or relations. Nope, for me alone, to watch the game on in my study.
Selfish, aren't I?
Disclosure Policy.