for me, to answer that completely depends on how you want to play. if you want to play to win, 100% what guiness said. its smart, effective, and has very little risk. but lets say you are a gambling man. which i am. a really fun, and dangerous way to bid, is to push bids up. so lets say you know your league so so and you know that a bunch of them are from dallas. its pretty much a lock at that point to get a guy to over bid for zeke. i had a lot of fun this year doing just that. i kept on over bidding on zeke to make someone else pay waaaaay too much for him. we play with 167 million in budget, i got him to pay 60m a year for 4 years. and thats not a joke i kind of wish it was. its fun but dangerous. i ended up over paying for freeman myself. i was able to trade him away though for some good talent so it worked out haha. but basically i made zeke fan over pay, giving me the chance to get a more solid core because he couldn’t bid as high. i did this to about 5 people and ended up with a pretty solid team all around along with the most funds because well… i made everyone over pay lol.
but if you really want to take it serious, guiness’s way is the way to go. you will avoid jerks like me, and keep a solid budget. as for value to budget, it also depnds on what kind of draft it is. like, is it dynasty? because that changes a lot of things. along with if you have contracts so on and so forth. a basic auction draft is pretty simple. its the exact same as your basic redraft, but you just have to budget really well.