Hello ccdesign,
Forget the rest. You need energy, Webenergy!
We can definately build this for you! We have developed auction sites before, and have the necessary expertise to complete this project. Unique for you, we would make the cross-referencing between bids alot more user-friendly. Also, we would make the favorites list, or items I'm watching more visible, and easy for members to use. A feature that Ebay lacks, is the ability to save searches. If a member does a search within a specific category, then they can save that search and execute it next time they log in. We will PM you with more details.