Yahoo Sports' Scott Pianowski offers a few more tips for your baseball auction.
I particularly agree with trying to avoid $1 max-bid land for as long as possible for exactly the reasons he says. I also think it's usually good to reserve a fair amount of money - roughly $60-$90 - to control the end game with. Sometimes it'll hurt you if the bargains came early, but in at least 75 percent of the leagues I've been in, the bargains come late, and having the big stack during that time is a great thing. Just keep an eye on the dwindling player pool so you don't leave money on the table.