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I've seen other leagues go to a blind bidding system where the highest bidder gets the guy. I don't know this system at all, so I don't know how they'd work. On the suface it has it's advantages and disadvantages. The main advantage is that it's quick the main disadvantage is you may overpay for a player.
I play in a league with "bidding bucks" where each team is allotted $100 to start the season.
Free agency begins when the players game is finished and we have a forum set up on our league's message board that allows for free agent bidding. So it's basically an auction. Bids can start at $0.
If you have the highest bid for a player for 24 hours, he's yours.
The main disadvantage to this is if you get into a bidding war with an opponent and you're not able to add the player to your roster by the next game.
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