I agree with the terms and agree the bid needs to be done by a snipe bid service. Who is the point person to PM? If the point person has a PayPal account that person could send an invoice to all participating with their share of the bid prior to the bid. The invoice should be the share bid amount plus the PayPal fees that the account holder would have pay for receipt of the money through PayPal and the point person would only bid if all money has been received prior to the auction end.