I actually don't know

Also what are titles? Can I make my own?

When you see a pet or item with a buyout option that is the amount you can pay to get it right away instead of waiting for the timer to run out. It usually costs more than waiting for the auction to end, but sometimes auctions can go for weeks.

Titles are created for many reasons and are displayed below the pets name. Some player's organize their breeding programs with one, label certain types of pets with a title, and some use titles as a way to mark every pet they own or breed. Each title is unique as in no two can be named the same.

Here is a visual guide on how to create and add titles to your pets.