You need to leave it up for more than a few hours if you want people to use it, it's not going to get tons of traffic instantly. I was about to buy some bids, but I refreshed the page and the site was down.
Edit: I understand that you need to get enough bids before the auction ends to profit, but 9 days is ridiculously long, especially when it resets after every bid. Reducing it to 120 seconds when users think they still have a week left to bid is even worse, as you probably just found out. If you're going to bring your site back up you need to keep the timer low enough to attract bidders, but not so low that it's going to run out before you raise enough money to cover your costs. You could probably start it at an hour, then slowly lower it when you get enough bids to pay for the prize. Starting with smaller prizes will also help. If you put that graphics card up for auction with your current traffic you're going to either lose money or lose the interest of the bidders because the timer would have to be extremely high.