eBay Expert Doug Melvin Questions the Yankees’ Bidding Technique

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↵The New York Yankees thrust $140 million at CC Sabathia Friday, which for some reason shocked a lot of folks. (Come on, who makes rash, over-the-top contract offers like the Yanks?) Among the awed: Milwaukee GM Doug Melvin, who has reportedly offered CC $100 million for six years of service. From Tom Haudricourt of the Milwaukee Journal-Sentinel: ↵↵⇥“It sounds like they’re overbidding,” Melvin said. “If the speculation is true that we’ve offered CC $100 million, why would you offer $140 million? Why wouldn’t you offer $110 million?” ↵↵Ah, I can see Melvin has taken a “How to eBay like a pro!” seminar or two. There are, of course, two distinct bidding philosophies. In Melvin’s eyes, you bid just enough to take a lead ... like the old “I bid $501, Bob” from The Price is Right. It can be time-consuming and heated if you get into a bidding war. But it probably saves money in the long-run.
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↵Hank Steinbrenner naturally fits the description of the Moneybags high roller who saunters into an auction with a martini and a blonde and bids twice the base price, overpaying but winning instantly. It’s part boredom with the standard bourgeoise game, part “my yacht’s longer than yours” contest for these elites. And boy does it anger the folks like Melvin, who just dreams of how many corner infielders that superfluous $30 million could buy.↵