it looks like a scam or con but done in a creative way designed to lure greedy people who cant do simple math.

also the staff could easily place the last bid (or even rig the system) to ensure that they do not lose the item when they can't earn any profit.

it is however a very lucrative way to make money, lol.

what? do you even understand how it works? NO. Try to visit that site and do some research first.

No business wants to lose money.

btw are you a staff there?

this is a form of gambling, and as we all know, the house always wins.