WeBid is an open-source auction script package.
Although still in beta stages WeBid is one of the best open-source solutions for getting an auction site up and running quickly and cheaply.
Written in the popular scripting language PHP and with a large collection of highly customisable features WeBid is the prefect choice for setting up any auction site.
Some of it's key features which make WeBid a great choice are: WeBid has an easy to use administration panel; a user friendly installation process, which allows you to have your own auction site set up in minutes; an inbuilt payment system allowing your users to easily pay fees and their purchased items with their favorite payment gateways (these include PayPal, Authorize.Net). As well as being incredibly easy to edit to your liking.