auction question

[brewbro]

I've been in a redraft league for years now. This year the commish is changing it to a keeper league with an aution type draft. And not just an auction but a blind bid type auction.

So i guess what happens is that we throw out a players name, write our bid down on a piece of paper and everyone shows their bid at the same time. And obviously the high bid gets the player.

Any comments on this type of draft? From what I understand the goal is to make it faster than a regular auction.

Thanks for the input.

[stevethumb]

sounds interesting....any live auction is always a fun day...keep us posted as to how this turns out...how many teams ? mixed league ? cats ? salary cap ?

[Matthias]

it sounds faster and auction theory in economics says that sealed-bid auctions yield the highest price for the thing being sold. since if you have two bidders, and one person values the player at $10, and the other at $20, in a normal auction the second person will buy the player for $11. in a sealed-bid, they'll bid the entire $20, assuming they have no information on the other person's bidding.

so sounds faster and is legit.

[rw_26]

What if 2 or 3 people have the same amount written down?

[SouthBronxBombers]

I don't think I would like that too much. If you want to speed things up, have a minimum starting bid each round so you don't have to sit through the progression by $1 from $1.

[Ragoczy]

If it is completely blind auction and the player goes for the highest bid and not $1 over the 2nd highest then get a stud or two then hold onto your money and you'll make a killing midway through the draft and on after everyone has spent too much.

[williesd]

Remember to take inflation into consideration. I'm assuming you
are keeping players form last year? Read this article. I wish I had this
before I went into my first keeper auction.

http://sox1fan.com/?p=143

[stevethumb]

BUT remember, IF you get $260 value for your $260 spent you will NEVER win ... let's look at inflation and whether you should apply it to your team...you own jbay at $6, dturnbow at $3, jpeavy at $12.. since value has been built into your roster w/these guys, you can pay the "inflated" price of some players to fill out yer team's needs... however, let's say you own jbay at $30, dturnbow at $21 and jpeavy at $27 you can not afford to overspend for inflated priced players at auction because you will end up w/less than $260 value for the $260 you have spent....inflationary effects on a keeper league are real, they just apply differently to each team owner depending on his keepers and their salaries