Question about DNForum Auction

[whitebark]

Just have a quick question about DNForum's auction - http://www.dnforum.com/dnfppauction/index.php

Correct me if I am wrong (can't find information either way), but does it not work like any other auction - highest bidder wins - even if it happens to be the only bid? Reserve aside of course.

Thanks

Edit - Can someone please post a link if one exists?