Bids cost just $0.13 and can be purchased in bid packs at the iBid Store. These bids are pre-paid and stored in the iBid Credit History. Each time you place a bid; it will be deducted from your remaining bids and will increase the price of the auction by one cent. No more than 10 seconds is added to the timer whenever a bid is placed. This allows another user the opportunity to bid if interested. It's just like the auctioneer shouting, "Going once...Going twice...SOLD!" at a traditional auction.
And also, just like a traditional auction, you win by being the last to bid. Once you do not pay the final auction price and shipping costs, the item is yours!
Watch this video to understand how iBid work: