I love the adwords minimum bid because it gives me an idea of what people are bidding on. I can then see what kind of ads will make me want to bid on that company.
I don’t really like auctions, but I like to see the best possible bids. So for example, when I’m looking at a new car, I try to see if I can make a good deal on a car that I haven’t seen yet. If you’re looking at a new car, you may not want to be bidding on it for long, and you may not want to bid high if you know what you’re doing.