Like hedger said the bases were way too high.
At one stage we had only bidded on two out of nine of our players higher than there base, so we had seven at base price, and we had exceeded 4 million...
It is very very hard to get any decent players and keep our budget under 4 million, I think partly because we're paying 300k for duds, and if we but six of them that pretty much 2 mill out of our 7 mill on a third of our squad which is duds.
Also a lot of people are just random bidding, e.g. I just bid on a random player to get them at base price and someone comes along and beats me when there are players with a greater base price not even bidded on. Like wtf?