Here's how it works ...
The carrier that put in these rates has bid the lowest possible dollars and cents the system will accept, hence the 22 cents. Now, no one else can see how anyone else is bidding, and the system is hung like this for 5 days.
The rest is usually done by a couple bots run by different SCAC codes. As these auctions are coming to a close there will be a countdown timer. At roughly the 1 second mark the one bot will will withdraw the ridiculously low bid. The second bot will query the system, determine the current lowest bid, and underbid it by $1.00 (+/- 99 cents). Typically that second bot will be the auction winner. As EricG mentioned earlier, there are 1,000 milliseconds in a second, and this is all being done in the last 150 to 200 milliseconds. Carriers watching RFA will never know what the real rate was because the auction will close before screen refreshes can occur.