Although this is a frequently requested application, it does not look as if someone has implemented it.
This is not like this tough project. You will need the “Profile” application to track the user's reputation, the messaging application (easily accessible), the “Products” application (users offer products, user bids on products at the time when the auction is closed, etc.).
I think the weekend is for the basics. Get the hell out of Satchmo for transaction processing and get a real authorization account through Authorize.NET, not some kind of Google Checkout or Paypal. However, you would be on the hook for one big risk of fraud, so auction sites are usually for Big Kids.
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