Auction site where users pay to bid

We want to develop an auction site where: 1. Bidding on an auction starts at say 0,07$, with no reserve prices. 2. The price only goes up by 0,07$ with each bid placed. 3. If a bid gets placed in the final moments, the time available to bid gets extended by up to 40 seconds. 4. There’s a small charge for each bid placed. The site will have to be very interactive in order to: - allow the users to see what the other users are bidding - allow the users to bid Towards the end of the time available to bid there will be a peak of activity among the users. Besides the logic of the auction the site will have to include standard features like: - user registration - user account management - purchase of the credits to bid (paypal and visa) - management of the credits