You are bidding on a Sega Saturn with a Phoebe Optical Drive Emulator (ODE), which allows you to load games from an SD Card.
This is not a cheap Chinese knock-off but an original Phoebe ODE purchased from:
https://gdemu.wordpress.com/operation/phoebe-operation/
This is the best of its kind and an awesome bit of kit.
As you can see it boots to a menu allowing you to choose which game you load.
I will include an 8GB SD Card to help demonstrate the awesomeness of this system.
Included are a Saturn with Phoebe installed, original pad, power lead and TV lead.
Any questions please ask.