I read an article that said Wavee is a great site for online auctions. What the article should have said is that they're set up to take your money and run.
I read all the information they have on the site and couldn't find one thing that said when you bid you use whatever amount you've specified and don't get it back when someone else has the 'high' bid. It's unethical that you bid on an item, someone else bids higher, but everyone who bid on the item forfeits whatever amount they bid. Let's see - who really comes out ahead on auction items? Seems to me it's Wavee.
I compare this to a gambling website, not an online auction. Don't use their site!
It's a rip off! I can't believe they're allowed to do business this way.