Officially, edgy advertising firm Crispin Porter + Bogusky decided to auction off the services of their interns as a way to compensate the underpaid labor, but probably just to remind everyone how quirky the company is and get some press.
Brammo, a maker of electronic mini-motorcycles, won the auction for a cool $17,665 (beating out Riptide's bid of $3.99). In return they'll get "a creative presentation developed by our interns over a three month period, consisting of strategies, recommended brand positioning and concepts. No production services or finished advertising materials will be provided."
But much like CP+B, they'll also get some relatively cheap promotion just by being the winner. Had you ever heard of Brammo before? Probably not, so the bids already paying for itself.