It looks like Telecom New Zealand's ferrit on-line shopping is live now.
As far as I can see it's not the trademe.co.nz competitor people were talking about. It's an on-line shopping centre, not an auction site with second hand goods (although sometime Trademe auctions are new items from retail).
Just a warning though: be careful not to enter the .com version of the site: it's NSFW or kids.