http://www41.myfantasyleague.com/2008/home/64557
That's an initial auction contract league, with IDP. Contracts have yet to be assigned.
A lot of interesting teams, people definitely built their teams in different ways.
The only thing I will say that I definitely do is try and stay fluid, flexible. I think in a draft, you can lock in on your targets, and maybe reach a bit for them, and it isn't the end of the world. But in an auction, if there's a sleeper you like, and he gets nominated early, you can really overpay.
Towards the middle of the draft, I will try and not let too many steals go by, I don't drop out of an auction unless I feel a player is close to his max value.
As teams take shape, this is where I think good auction owners separate themselves. At that point, you need to closely track every team, and see what they are looking for. Nominating players late in the auction is the most important part. If I am eyeballing Demetrius Williams at the end, I want to make sure any other team either can't outbid me, or has a bunch of WRs. It's not just nominating guys you want, but guys that will ensure you can get the guy you REALLY want.
I never wind up getting too many of my targets early, but late I usually wind up with guys I really like.