I just looked at it, had never heard of it before. I dunno... This penny auction fad thats going on feels real sketchy to me. Its kind of like gambling, since you have to pay up front with no guarantee of returns. But.... the prices things are "selling" at are sure enticing! I wonder how their whole FFL process is.
I think the whole way these type of sites make money is by charging for bids. So essentially you are paying to bid. Yes the item price may be cheap but you may have spent double that putting in bids. I try to stay away. Read an article once on a similar site. The author bought $20 dollars worth of bids and they were gone in less than 2 minutes.
I'd stay away from it. I've bought several long guns and a few handguns from gunbroker.com and have come away with great deals, you just gotta figure shipping and FFL costs to your purchase price to see if it's worth it. I always price the firearm I want locally and then see what I can find on gunbroker.
If you are looking for something out of the ordinary look on guns america or gun broker. These sites have been around a very long time and are where you will find reputable FFL dealers selling merchandise