This is a simple Penny Auction - https://en.wikipedia.org/wiki/Bidding_fee_auction https://en.wikipedia.org/wiki/Bidding_fee_auction. Not a scam per se but a bi

This is a simple Penny Auction - https://en.wikipedia.org/wiki/Bidding_fee_auction https://en.wikipedia.org/wiki/Bidding_fee_auction. Not a scam per se but a bit of a racket as the operator typically brings home a lot of money as people are putting much more money in to the pot then is actually paid out.