I just discovered this site through an advert on facebook. I won't link to it, but I'm sure you can guess the URL from the thread title!
It's a pretty clever service, as it benefits the buyer and the seller both.
Essentially it's ebay (in terms of bidding), but all products are sold by telebid, not by other people. The main difference is that every time you bid, it charges you 50p. Every time someone bids, the bidding-time increases by 10/20/30 secs.
Products on there go for incredibly small sums. I watched a DS Lite go for £13.00, and a wii for £120.
The buyer does well because they can get a product really cheaply (if they don't behave stupidly and bid lots of times).
The seller does well because they get 50p for every bid, and the price of the product only goes up 10p with each bid. There's a DS Lite on there at the moment for £60 (people are still bidding) - this means that the company has made £300 on it without it even being sold*.
The only person (people) who lose out are those who have bidded but not managed to win the product.
This isn't some sort of stupid advert - I haven't used it myself. I just think it's a pretty clever way of doing things. I guess to have the highest chance of winning the product without spending loads on bids, you'd have to come in as early as possible (bidding starts at 7am).
It just seemed quite cool to me - I'm thinking about buying a wii and I might watch this site for a bit and try to get a good deal on one.
*£60.00 / 10p = 600 bids = £300 (50p per bid)
"There is no I in team, but there are two in anal fisting"