The item is: PTerry: Once More* with Footnotes. Which is to say a signed, out-of-print, first printing NESFA Press collection of the writings of Sir (then Mr.) Terry Pratchett. Very rare, collectible item. High bid is currently $300. Item is listed for sale at upwards of $500 for the second printing. Auction ends noon, Central time, April 14, 2009.
See the profile at accessiblehouse for information on why this auction is taking place, the means and methods of its operation and contact information for any questions. I now return you to your regularly scheduled community programming.