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I agree with the previous posters, very exciting at first, but I found it wears off quickly, especially if you're not interested in bidding on a car. Roaming the pre/post auction lots checking out the cars is just as fun. Then you can determine if you want to stick around and see what the cars sell for.
I can see why most auction houses push hard for no reserve. Not only does it guarantee $$$ for them, but reserve auctions suck the life out of the room since you never know if the bidders are $5k or $50k away from a sale.
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1992 968 Polar Silver
2010 Toyota Highlander SE
2006 Lexus LS430 ML
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