New Dynasty League Drafting soon-Auction Draft (1 Viewer)

[fflsfantasy]

New Dynasty League is up and running through MyFantasyLeague. Auction will begin 24 hours after the league is full.

$200 to be used for 20 player roster

Maximum of 20 players up for bid at one time

Each player auction will last 24 hours from first bid

Increments of $.10

Auction is only used for initial draft

League Website- http://www30.myfantasyleague.com/2012/home/68726#0

Rules- http://fantasyfootballleaguesite.com/rules.html

Payouts- http://fantasyfootballleaguesite.com/payoutsleagues.html

Join- http://fantasyfootballleaguesite.com/join-leaguerenew-team.html

 

[fflsfantasy]

To give a better explanation of how the auction works, this was copied from the MFL help center. This is not a blind auction.

Let's assume that Franchise 1 opens bidding on Player A, and the initial bid is $5.00. The system will "remember" the maximum bid of $5.00, and report the initial bid on this player equal to the "Minimum Opening Bid" of $1.00. Then, Franchise 2 submits a bid of $2.00 on Player A. The system recognizes that Franchise 1 was willing to pay up to $5.00 for Player A, so immediately after Franchise 2 submits his $2.00 bid, the system notifies him that he has been outbid, and then considers the high bid on Player A to be $2.00. Then, Franchise 2 submits a bid of $5.00 on Player A. The system recognizes that this bid amount is equal to the maximum bid made by Franchise 1, so the system then considers Franchise 2 to be immediately out-bid (earlier bids always beat later bids of the same amount), but the system then considers the current bid amount for Player A to be $5.00 (the maximum amount that Franchise 1 was willing to bid). In other words, this "proxy" bidding configuration allows a franchise owner to bid only as much as he needs to on any given player, and no more.