Israeli based Scepia a leading web development company has launched 1090, a lowest unique bidding auction. The idea is simple; the bidder with the lowest unique price wins the auction. Scepia claims that it's their initiative but actually it's been done before by Limbo (in the US) which was launched earlier this year.
For now 1090 auctions off one or two different tech devices per day like iPods, digital cameras etc.
The user places a bid for a specific item via SMS and is charged 3.5 shekels by his cellular operator. In return the bidder receives a message saying that the bid didn't win and that the winning bid is between x to y, this is where you try and stop yourself from bidding again. I have to admit its very tempting. The idea of course is to keep you bidding as much as possible, well you're actually limited to 100 bids per auction according to the FAQ on the site probably because of online gambling restrictions ...
After my three unsuccessful bids for an iPod I discovered annoyingly that they keep sending me alert messages to my phone notifying me about future auctions that are about to end.
1090 is a local Israeli clone of Limbo, a kind of a gimmick that will drag many believers to spend a lot of money.