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Are there minimum CPC's for my keywords?
Yes. In order to ensure fairness for AdWords CPM advertisers, minimum CPC's have been set for AdWords Select keywords according to how well those keywords sold in the original AdWords program. Thus, AdWords Select advertisers will not be able to purchase keywords unless their CPC rate is comparable to or higher than the amount being paid for those same keywords through the original AdWords program.
Think I'll go have a look at Overture. :)
Seems sensible, though im sure there is an inconsistency there somehwere, as our Select (CPC) ads seem to be appearing soley by themselves on many SERPS. So who are we competing against who have managed to increase the minimum so much!
Side note - what Googleīs algo doesnīt seem to care about is the language / country targeting of your campaign. The minimum cpc seems to be the same, no matter if you target the whole world or a small country.