Mixed feelings on FCFS, but anyway...
If you're going to do bidding, IMO blind bids are stoopid. Would you run an auction draft that way? YES, this is exactly how an auction is run No. So why do FAs that way? wtf w/the guessing game? That's kinda like walking into a dealership and a dealer goes "I have a bottom-line number on this car. If you guess higher than that number, you have to pay that amount and buy it. If you're too low, you can't buy it."
*snip* Market value. agreed,this is the best way to handle waivers/FA Let the FA bidding wars happen - fairer and IMO more fun. You can either let it go or if you really want the player, fork over the cash instead of this "one and done" thing.
I think you are assuming blind bidding means you pay your maximum bid. That is only one way to blind bid. In my opinion, if you want the
most fair way of running waivers/FA, you would use a +1 system of blind bidding. In the words of Tone Loc, "And it goes a little somethin' like this":Think of it this way. Most of us here would agree that for the draft an auction is the "fairest" way to run it. If that is the case, the same should hold true for the waivers/FA period. However, trying to get 12+ teams together every week for claims just aint going to happen. However, there is a way to run claims that mirrors an auction process exactly.
With "+1" blind bidding, the computer acts as the auctioneer. As a simple example, lets say your entire league got together for a live auction during week 1 of the waiver process. And lets say 3 owners wanted to acquire the waiver phenom, Brandon Jacobs. Those three owners are willing to bid, $4, $6, and $22. The guy bidding $22 is in dire need of a RB because his RB1 and RB2 were arrested after celebrating their week 1 wins.
what is the fair market value of Brandon Jacobs? It's $7. And that is exactly what he would go for (NOT $22), using a +1 blind bidding system. Because in a live auction Owner 1 would drop out when the bidding hit $5, Owner 2 would drop out when bidding hit $7, and therefore Owner 3 would get BJ for $7 (no pun intended). Well, that is *exactly* what you would pay when the computer acts as auctioneer in the +1 system.
Simply put, blind bidding using a +1 system is the fairest way of running your waivers/FA claims.