Is this website a scam?

www.jaybid.com

I stumbled across this site which was advertised on Facebook, it's a supposed online auction site. It had a load of products like Nintendo Wii, LCD TV's and £500 pounds worth in cash to bid for and they were apparently selling for anything between £6-£50. It also announces the latest winners and what the bid went up to.

I thought this was too good to be true. I tried registering to find out more but the link was dead and alarm bells began to ring when there was no contact information, T's & C's, or any other company information. I checked out the source code and there's no scripting like javascript or anything to indicate livefeeds etc, just HTML and CSS.

I found the guys contact details via http://whois.domaintools.com/ and contacted him. He was keen and quick to answer my registering questions but when I asked about the authenticity of the site, I didn't get a response. The next thing the site is taken down for "updates". However it's up again this morning if you want to take a look.

So, do you think this is a genuine site or a scam? If it's a dodgy site, does anyone know who I need to report it to?

Thanks and sorry for such a lengthy question but I thought I'd offer as much info as poss!