by kimkrichbaum2 » Sat May 15, 2010 12:00 pm
I can't find the link, so let me describe the sealed bid in detail as much as I can.
We begin with the 3 highest salary hitters and 2 highest salary pitchers, who five owners volunteer to put up for auction, after that, whomever wins a players proposes the next, if you win a hitter, you propose a hitter, if you win a pitcher, you propose a pitcher. The proposing owner puts up a player name and makes an opening bid (or pass), all owners can either beat that bid or pass by sending a PM to the proposing owner. Bids are in increments of .01 mil. (The minimum opening bid is either .50 or 10% of the player's salary, whichever is higher). After all owners have bid or 24 hours has elapsed, the highest bid gets the player, and the proposing owner publishes the results (all the bids, not just the winner). Once you have submitted a bid, you can not resubmit, even within the 24 hour limit. If everyone passes, then the player belongs to the proposing owner for the minimum opening bid.
If there is a tie, this is announced, and the tied owners have 24 hours to make a new bid or pass. Again a winner is declared, or there is another tie, and owners rebid. If there is a tie because of two passes, then the player is given to the owner who made the earliest bid at the last tie (the one before the two pass tie) at the price of the last tie.
Owners are encouraged to actively pass rather than not bid, as this helps the auction move more quickly.
Owners can not make bids that would give them less than .50 per player left for the number of players they still need for their roster.
All owners must obviously draft a legal team for ATG V(15 hitters, 10 pitchers, 2 catchers, 3 RP only, etc.)
I would be willing to do the sealed bid auction exactly this way, but I have one small improvement I would like to suggest.
One quirk of this draft, is generally you do not want to propose players that you actually want, because then other owners get to see your top bid, and can beat it by a small amount. At the end of the draft, it can be a pain trying to find players you don't want, but other owners will bid on.
If any of you were part of the sealed bid auction noticed something I left out, please add it.
My suggestion would be that all players are put up for auction without the proposing player making a public bid. Instead the proposing owner makes a private bid (or pass) which they send to the owner following them in our sign up sequence. They must do this right when then they propose the player, before they have seen anyone else's bid. Then after all the bids are in, they announce the winner and all the bids including their own (they have sent their bid to the owner following them, just to keep them honest). The advantage to this system, is that only one owner gets to see the proposing owners bid, rather than all 11, making it more feasible to propose players you actually want.