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I've bought from Watches of Knightsbridge and had no issues. Very professional and very prompt.
There are two things I will say to keep in mind about auctions:
1. The premium - Don't forget the premium. So many times I bid an amount without remembering that I need to add the premium to reflect the true cost.
2. The fever - Auctions can kind of sweep you away and get you into the heat of the competition. I have blown past my set "limits" almost every time trying to win. I keep thinking... I've got it this time.
Either way, they can be a lot of fun if you know what you're doing. Good luck.
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