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Bid4prizes.com - Too good to be true?

I came across Bid4prizes.com when surfing the net. The site allows people to enter into bidding games to win great prizes such as car, motorcycle, watches, electronic products and many other lucrative prizes. And the best part of Bid4prizes's auction games is that, the person with the lowest unique bid will win the prize of an auction. Doesn't these sound too good to be true?

To find out whether Biz4prizes.com is real or not. I went to Google and did some searches. I didn't found any scam complaints on Biz4prizes. Biz4prizes is actually owned by New Motion Inc, a digital entertainment company that specializes in products for mobile phones and making a net sales of $18.7 million in 2006. Biz4prizes also posted a list of testimonies of the winners recorded in audio. So I conclude Biz4prizes is real.

How Bid4prizes Works?
There are many auctions running in Bid4prizes and each auction has a prize. Member look for the prize he/she like then bid in the auction to win the prize.

- Member with the lowest unique bid in the auction win the prize. What is lowest unique bid? Here's an example to help you understand.

- Let say there are 10 persons bidding for a TV in an auction and the bids result are:

Bids
$1 - 2 persons
$3 - 1 person
$4 - 3 persons
$5 - 1 person
$7 - 3 persons

$1 is the lowest bids but not unique because there are more 2 persons, $5 is unique but not the lowest. The $3 bid is the one that match the criteria "unique and lowest". So the person with the $3 bid win the prize.

- Bid start $0.01 and each member can only bid up to 20 times daily.

Bid4prizes accepts US residents only
The bidding games open only to US people only. This to me is a downside of bid4prizes.
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