Could be an interesting concept. In the current climate where good developers and designers are highly sought after, it might work. However, it would probably also be very sensitive to market changes in demand for developers / designers.
Yeah, that's the point. Freelancing rates and salaries take a dive during low demand. An auction is focused on getting a high price for something which is in high demand. If there is not a high demand, you wouldn't have a need for an auction model (when talking services / hours, not physical products).
Unlike a physical product, every developer / designer will have a minimum price which they won't go below. Thus the auction will never favor the buyers. In a low market, buyer will pay only minimum price, hence the auction format loses its purpose, as there will be no bids.
