I have a domain for a site that I want to utilize for a penny auction business. I would like to model this site very similarly to www.bidfire.com - or www.bidcactus.com - but more like the first one. This site would utilize PHP or ASP and MySQL -- it will have a system that allows people to purchase bids through paypal that will immediately credit their accounts once the payment goes through.

The auction system would have a way for the administrator to post new auctions on the site on a regular basis. The timer needs to wind down and when it gets down to zero and someone places a bid it refreshes the clock to add 40 more seconds.