It's just a classipress wordpress plugin.
So it's not an auction system (well not that i can find) you leave a message to the seller.
I think the lack of an auction function would limit the interest of many buyers and sellers.
It's a nice domain name for the niche though.
It is a good domain but lacks a lot of information. Auction function like benitez mentioned before, a much more advanced search system so can filter a lot better and i canīt find one site being sold with any type of information attached (google analytics, screenshots of revenue and so on). So i think it canīt support that either.
I really wanted this one to do well, but with the ridiculous valuations on most of the listings, I doubt it will gain traction without a pivot.
Sorry going to go on a mini rant here :|. There have been numerous mini flippa competitors, I dont see why people think they can just install wordpress, add a theme and become a viable competitor to flippa. I know its backed by Joel Comm I suppose he can post a few blog posts about the site and conjure up some new traffic but thats only going to get him so far. Secondly, flipping only makes money for the marketplace and the seller. If a new marketplace would want to take on flippa, it would be by differentiating itsself from the flipping scene and being the old sitepoint marketplace - quality websites and buyers with money.
It is a simple idea that costs practically nothing to deploy but probably has about 0% chance for success. But it is certainly better than a parked page.