This is legit.
They've figured out a way to make bidding safe, exciting, and include potential bargains.
What you do is bid the lowest bid, but if your bid is too common - everybody wants to bid one cent - then that isn't a 'unique' enough bid.
You have to be one of the few who an unusual amount, and that means raising your bid a bit. What makes a bid unusual is if you go higher, you are more likely to win because your bid is less usual.
I think it's fun because you have a tension between getting a bargain and knowing a deal is still a 'steal' at an unusual (slightly higher?) price. I would love to win this BMW for less than the prize of a used car. That would be so cool!
And you can't lose, because you only bid what you're willing to pay.
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