An "online auction image host". In other words, its purpose is to hold direct link pictures for people in auctions. Although, its use is not limited to that; it can host any kind of file. Each account holds one megabyte, which should be plenty to host a lot of pictures.
Similar to Photobucket, except it doesn't have a horrible limit on bandwidth, but it isn't as user-friendly.
It used to be free, but now an account requires paid money, except for the people who got an account before the change.
Oh forget this file transfer, I'm uploading this to Boomspeed...