I went and analyzed the whole bidding process.

So for the AK, it costs 25 GG to make a single bid. They sell these GG points on the website and they're required for bidding, you cant make actual cash bids. Every bid you make raises the price by $0.01.

The website sells 500 GG for $5.00. You can buy larger amounts of GG and get a better price, ie. 12,000 GG for $100.

Assume for arguments sake we choose the 500 for 5 deal. The price per GG in this package is basically 1 cent.

Now going back to the AK. The final price was $0.87, therefore a total of 86 bids were made (assuming the bidding started at a penny).

It costs 25 cents per bid. 86 bids multiplied by 25 cents = $21.50.

So the item was oversold and the company makes $1.80.

The amount you end up paying is ((.01 x GG cost to bid) x Number of Bids Made) + Final Price

Now if you were smart and only made a few bids then hell yeah this is a great deal, but please don't assume that you're only paying $0.87.

This is such a great idea from a business perspective, kids see 87 cents and think they're getting a good deal.