I'm in a 12 team auction league, same owners for several years. One benefit of that is having a history of what players have gone for in the past. That gives you a great start as to how you can build your team before the draft even starts. Plus, you can then see what the past payment has been for certain stats (scorers tend to go a bit high).
If you're new to an auction league, you just need to find a valuation system that you trust and stick with it. Biggest thing is don't panic if you don't get your guy because you see that he's going for $5-$7 more than he "should". Let that owner overpay and move on to the next guy. Make adjustments.
For me, it's tough to pay for guys with injury histories. Take Kyrie. I'm not touching him or his knees this season. There's a solid chance he misses games and will have rest days come fantasy playoff time due to those knees. No thanks. Gotta look for things like that when deciding who to buy.
Fantasy playoff schedule matters. For instance Golden State has a ton of games at that time, so those players may be worth a bit more. Whereas the Clippers and Pelicans have the worst schedules. That's why I'm not going after Anthony Davis. I know it's sacrilege to say that I don't want him, but for example Lillard plays 3 more games in fantasy playoffs than Davis does and will go for less $. Both of them are extremely capable of leading your team to the playoffs, but I'd rather have Dame's extra games at the end of the season when the money's on the table.
Also, I think you absolutely can go into an auction with a plan vs just finding players that are bargains. If you gotta win 5 cats, get players that will give you mad stats in those cats and heck with the rest. Granted, my league does not have position requirements, so if you want to go with a ton of Gs, you are welcome to. Two years ago the guy who won went total small ball and punted blocks, rebounds and turnovers. It's risky, as injuries can hurt you much more than a balanced team, but it certainly can be done.
My .02 on the topic. Best of luck to the auctioners. IMO, the most fun way to get a team (plus the smack talking during the draft is always a highlight).