I've written many times (here, here, here, here) about Giambi. (And about Aaron Hill, and Jonny Gomes and Brett Myers, but I digress.)
Now that he has restablished himself as a legit HR hitter again, I am getting daily offers for him. At $15, he is clearly undervalued by the same. I doubt anyone would find Giambi carrying a $30 tag in any book, but I base mine on experience (Yes, I am a scout and those books and mags are Moneyball!) Any hitter who hits 30 HR in a AL/NL-only format will go for $30+. Good or bad, it is reality and the quicker you recognize it, the easier it will be to compete.
But the offers! I am currently loaded with 1B, 2B and OF. If a team knew that, they could tailor their offer to complement that fact i.e. don't offer me a 1B, 2B or OF. An offer of a C, SS, 3B or pitcher would fit nicely.
Instead I get offers with Terence Long in them! Jeez, I already have Emil Brown. Nevermind whether I would want Terence Long if no one played the OF!
When I trade, I tend to look closely at the degree of full-value the players have. If Giambi is $15 under-valued, then I want that in return. For example, do not offer me a $14 CC Sabathia for him. I see Sabathia as, most generously described, fully-valued. (And if you add Terence Long as a sweetner....)
Even with that considered, I also look at scarcity and replacement costs. What will it take for me to land a 30 HR hitter at the draft? get a player of similar perfromance and price as the one offered? If I can't get what I deal or can get what I acquire easily, then I will require an even better offer than another player $15 under-valued.
A team could try to sweeten the offer with more players, but I usually have nearly the maximum number of keepers already so I will see that as unappealling despite the allure of future trading options.
Anyway, I am beyond trading for trading's sake. Unfortunately, this type of strategy tends towards much less trading..
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