Last week over the course of two nights, the Second FanGraphs staff league held our annual auction. As always, I entered with a simple strategy – stay calm, nab the one or two big names you need, but mostly let the rest of the league cash out early, and clean up with sleepers and guys who slip through the cracks.

That didn’t work out so well this time. You can see the way the auction went here. If you scroll through far enough, you’ll see that those sleepers didn’t sleep and the guys falling through the cracks didn’t fall that far. An overabundance of caution led to moderate early prices and too much cash to spend later. So what’s an owner to do?

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I’ve said it before, ottoneu leagues are great because there are so many strategies available to enterprising owners. You can play it straight if you’re the unimaginative sort (or maybe too nice to backstab), or you can deep dive into a rich meta-world of strategy. One of those areas is how to handle prospects.

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I have heard from a handful of ottoneu players who have already auctioned, but for most of you, auction season is just kicking off, myself included. We are just a few weeks from Opening Day and Tuesday evening I’ll be sitting down to my first auction of the year.

And when I sit down, I’ll be organized. I’ll have two computers open (probably overkill, but it makes things easier). I’ll have almost everything closed down – no extra browser windows, no chat windows, maybe Twitter (but only so I can post updates and keep you all in the know). What I will have with me is five excel spreadsheets, four browser windows, and some snacks.

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To paraphrase (horribly butcher?) A Tale of Two Cities, prospects are the best of times and the worst of times for ottoneu owners. At least based on the number of questions I get about them.

The joy of ottoneu is you can sign that Double-A SS with the big bat and hope he develops into a star. The problem is how to find the right prospect. For every Mike Trout, there is an Andy Marte. Actually, for every Trout, there are about a billion Marte’s. And the chances are you, like me, are not a prospect evaluator, which makes it awfully hard to tell the difference.

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Over the next few weeks, my goal is going to be to do my best to help prepare you for the upcoming ottoneu auctions. But today, with the keeper deadline still fresh on all of our minds (I will have nightmares if Matt Moore strikes out everyone in sight this year…), I thought I’d stop and take a look at where we are today.

As of Friday night at midnight ET, every team in the ottoneu universe is (or at least should be) down to 40 or fewer players on the roster and $400 or less in salary spent, and that gives us a chance to see who all of you deemed worthy of keeping.

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Welcome to today’s Ottoneu Fantasy Corner. Our topic applies to people in all leagues so by all means, settle in, grab yourself a mug of tepid tea, and prepare to be educated. While this post applies to any fantasy owner who makes trades or has a keeper decision looming over their head, I will focus on Ottoneu leagues. The keeper deadline for Ottoneu is the end of January 31, so there isn’t much time left to make up your mind about those marginal keepers. There’s no better time than now to learn about the endowment effect and how it can result in sub-optimal decisions.

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The clock is ticking ever closer to the ottoneu keeper deadline and you now have less than a week to make your final cuts. By the end of the day (midnight ET) on January 31, your rosters need to be at or below 40 players and you have to have at least $1 in cap space for every open roster spot.

I know I am still making some hard choices – should I trade a $14 Jason Kipnis for a $32 Paul Goldschmidt? Which of my five $20+ pitchers and three $30+ OF should I keep? – and that is just in one league. So I thought I would take a look at those choices and hope that it can help you make your last cuts, as well.

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Over the past two weeks, we’ve discussed player valuation in Ottoneu leagues and sending signals to affect the perceptions of other owners. Today, let’s move on to a topic that is a little more near and dear to our hearts – offseason trading.

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About 24 hours ago, plus or minus zero minutes, I posted on the topic of elite relievers and when such players should be purchased in a draft. I recommend skimming that first as some of the points are pertinent to this article.

That piece was designed to offer some general tools and thoughts for those in relatively standard leagues. However, FanGraphs offers a custom fantasy game called Ottoneu – perhaps you have heard of it. Ottoneu offers four scoring systems, two of which are scored by points. This article is about the value of elite relievers in those points formats.

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Last week, we spent some time talking about what goes into price expectations in an Ottoneu league. The take away point is simple: in Ottoneu leagues, one person’s trash is another person’s treasure.

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