Yes. If you bid a price and it does not exceed what others have bid, then it will not win, but the bid price stays, unless you remove it, so that the other bidders aren't paying artificially low prices for their ads. However, when your ad wins you will only have to pay 0.001 BTC per day more than the second place bidder, so as to never overpay. It's quite nice.
Hey, thanks for the response that really cleared things up
It does seem pretty nice I'll give it a go and report back thanks again!