Here is a simple example showing how the bidding works. And there is no time limit to when the bidding stops since a new bid increases the countdown by a further 10 seconds.

Current Price: R0.50
Last bidder: MrY
Bid cost: 1.00 credits
Winner savings:
Retail Price: R250.00
Current Price: -R0.50
10 bids: -R50.00 (The number of times the bidder bid therefore losing R50 (10 bids)by bidding on this item)
Savings: R199.50
Shipping Cost: R0.00

The final price gives an indication of how much Smokoo made on that particular item. (take the amount in cents and multiply it by R5 to give you the gross income)