I assume you couldn't have made a self-moderated thread, right?
That's not possible in the auction section.
Don't know why mods aren't quicker deleting this crap. I constantly report posts like those, and I've noticed that only some of them ever get deleted. That's life. I'm sure it's way more frustrating when it's your own auction thread.
Problem is that everything that you report from users above the newbie rank, will require action from the section moderator (which in this case are Cyrus and hilariousandco), or a global moderator and above (which again comes down to Cyrus and hilariousandco) - that's why it's taking so long.