To correct possible exploits:
a) The expiration will be 24 hours to begin with , then 1 hour will be added afterwards, after each outbid (so overall the auction will last less time and not 1 week like before)
b) the owner of the auction may submit the first bid (if they want to set a minimum bid), but then he cannot outbid anymore.
Scripts is still under testing. Use it with caution.