@ Amineri

Have one question concerning this system.

Lets say I put a bid on an Item. would there be a way (other then going to the auction NPC) to see if the current bid I placed has been out bid by another, as well the time remaining for the act of placing another bid to ensure my ownership of the item?

Kind of like the linkpearl for item you placed on the auction, just one for the person with bids in place.
Sorry if you covered this, was a question that surfaced while reading through the post, which seems like a pretty solid platform to build from. nice idea ^.^