(click for larger view)
I like the fact that you can either bid, or buy it now, like most auction sites, but on some items you can also offer to trade something.
I haven't listed or purchased any items yet so I can't speak to that process but I will probably be listing a skirt this weekend to check out how the process flows. It appears that if you're familiar with Ebay it should be fairly straight-forward.
Conversely, I would like to see more detail and closeup photos of items. I realize the webmaster has no control over which photos a seller posts of their items, but so many listing had a single (often poorly lit) photo. No matter how badly I want an item, I'm not going to purchase it without being able to see detail shots and at least 1 well lit, full product image.