>10 people pay $20 to participate in the auction
That doesn't seem like an auction and to be honest I don't really like the idea either.
That doesn't seem like an auction and to be honest I don't really like the idea either.
I actually looked at making a site like this for selling my house a couple of years ago. Fortunately I did some analysis before building it as in NZ it came under the gambling commission rules. This meant that I could only build a site like this if I donated all the proceeds to charity - unfortunately that was against what I was trying to achieve so never went through with it.