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If your question is purely Auction Site, I think it's eBay.in still. But Buy n Sell (India).com (buynsellindia.com) is catching them very soon as they have a lesser listing fees and fair policy than eBay. Also, if we take it as PURELY Indian site, it should be buynsellindia.com right now as all other sites including eBay, belongs to foreign company. eBay is originally from US.

If you are looking for some good sites with lowest prices and fast shipping, here is the list

www.govasool.com

www.Flipkart.com

www.letsbuy.com

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