Good info here overall.
Some things to add:
-Auctions are the most strategic of all drafts. Everything's in play at once. Every move matters. You can't just take 20 picks off if you're at the end of a snake draft. Pay attention.
-There are distinct phases of every auction - (1) The Open, (2) The middle phase, and (3) the end. Sounds silly, but it happens. There's transitions between each phase as well.
(1) The Open - Lots of big names come out and big $ to boot. The key here is to not pay through the nose even if you love a guy (it'll cost you later) and also try never to nominate a guy you want. You want $$ to be burnt before your guy comes out.
A nice move is to toss out a clear handcuff (Rube / BJacobs, LamJ/Rhodes, LT2/Turner) after a big name comes out. Everyone knows who has the first guy, so they'll force him to pay.
Near the end of the open, which may be 40-50 guys or more, some tiers will start to thin out. Get a guy before you break a tier - meaning if you have 10 RB1 options on your list, try and get #9 because they'll be another owner in a similar predicament but worse when #10 is on the board. The guys that are shallow in depth will overpay to catch up.
(2) The middle. Here is where you throw out moderate guys (WR2/3s, TEs, RB2/3s, QBs) to get the $ in play. You want as many $10+ guys on the table to burn bank rolls. Buy one yourself (or two) if you see value, but keep the $ flowing.
If your turn comes up, try and throw out a Top 5 K or D as a changeup for $1 and see if it slips through. If it doesn't, someone will pay $2 for something they might not have wanted, and if you get them, great.
(3) The end. Last 3-4 spots (possibly 4-5) for each team to fill. Look and see what everyone has for $ (KEEP TRACK). You should always try and keep $2 for every roster spot left, so that you can always upbid a guy you want later if someone throws him out for $1.
Lots more to read and learn. Check our articles section.
Also look for a certain fantasy magazine to have some more auction focus this year