The Zeekler Penny Auction Movie

How do penny auctions work?
Every time there is a bid placed the auction goes up by a set amount (typically$0.01 to $0.08). Also, after a bid the time increases a small amount (typically from 5-20seconds) once the timer dips below 30s it will not go back above 30s (sometimes the timer may go slightly above 30s) even if multiple bids are placed. This eliminates 'sniper bidding' and gives everyone a fair chance at winning. You win by being the last person to bid when the time expires.