I think your concept is sound, but I'll second the addition of a reputation system. Also, you're front page needs to let me know whats going on. If you cut down

I think your concept is sound, but I'll second the addition of a reputation system. Also, you're front page needs to let me know whats going on. If you cut down the number of auctions on the front page (maybe by only show the most active, which might also allow you to show just the best auctions), you'll have some room for a brief description of the site.