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Sounds fun. I've always wanted to try an auction.
Ron Shandler's "Baseball Forecaster" talks about roto drafts, and they have a section on strategy with a cheat sheet w/ suggested values in the back. The LIMA Plan (Low Investment Mound Aces) is the first and most widely used, where they advocate spending no more than $60 of your $260 (or, like 1/4 of your budget) on starters (EDIT: meant pitching, not just starters), and half that on saves. There's a few other strategies, too, probably all of 'em a little flawed, but fun to read.
At the very beginning of the book, he says not to get married to any of the values, though, because they'll change depending on how your draft is shaking out, depth of position, specific owner needs, and even locale (Mets/Yanks tend to be overvalued in NY, Dodgers/Angels at a draft in LA, etc.).
He says what he does is try to group guys by position in $5 increments that he thinks of as "interchangeable", it helps him stay on budget while filling his team out. He notes the purchase price for every player as they're drafted and compares w/ his chart to see if players are going over or under value.
He says paying attention to your opponents drafting and bidding tendencies as they develop, is as important as anything.
Anyway, have fun and report back. Thumb through the book if you see it at a shop, too. This is my third year in a row getting it.
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