yeah if you paid £200, it's almost guaranteed you'll be in a grandstand. general admission tickets to watch from the banking are only around £100 for the 3 days.
and yes, if it rains, you either stand up or sit in the wet mud/grass, unless you take your own foldable seating. camping seats are good, cos they're light and they fold up like a camera tripod with a bit of fabric where you actually sit. uncomfortable for long periods, but can stop you getting a wet arse if it rains.
have a look on the ticket, it should say the name of the stand and your seat number, if it does then you won't have to take your own seat.
when me and my dad went, we made our own sarnies for the day in the caravan before setting off for the track at 9am, then once in our seats at around half 10, we didn't have to leave them till after the race (apart for a quick piss-stop before the F1 cars came out).
looking on the silverstone site ([
www.silverstone.co.uk]), your ticket is probably for all 3 days, and if it's at Bridge, it's an uncovered seat:
so take an um-ber-ella, ella, ella, just in case it rains.
RIP Jules, never to be forgotten. #KeepFightingMichael