[Linda Buquet]

I'm not great at site valuations and can't answer your specific questions
but I have some others for you...

But the 1st question I would suggest you ask yourself is...
If I owned this site today, how would I drive traffic to it?
Sellers won't list to sell unless there is lots of traffic and possible bidders,
bidders wont stay long if there arent sellers that fit their needs.

SERIOUSLY - imagine its yours today - the guy just gave it to you for free.
How are you going to market and get traffic? Do you think you can?

2nd why would users come here to bid vs Ebay and other more established auction sites?

I only took a quick look and site looks OK, but I think it's possible that if you answer the questions above you will know if you should buy the site or not.