The Watch List shows auctions the user chooses to watch when considering a bid. The user may not want to bid immediately, but he may watch the bids on the item to see how the bids change.
Users can add any auction to their watch lists. Each auction has an Add to Watch List link under the Place Bid button. The user clicks the link while logged into his eBay account to add the auction to his Watch List.
To view all of the auctions on the Watch List, the user goes to My eBay and clicks Watch Lists & Other Lists from the Lists section at the left. The user then clicks Watch List. Each auction on the list also has a Delete button if the user decides he is no longer interested in the item.