http://www.profootballtalk.com/2008/04/15/new-draft-trade-chart/

PFT:

A couple of weeks ago, we developed a revised trade chart for valuing draft picks.  We've since caught wind of a new chart that has been developed by and among multiple teams, and that could be put in use as soon as this year.

The new chart can be seen right here.

In contrast to the current trade chart, the new chart has very different values for the picks in round one.  At the top, the points are compressed.  The first pick was worth 3,000; it's now down to 2,000.  However, the sixth pick is worth more under the new chart than it was under the prior version.  Each remaining pick, from No. 7 to No. 32, is worth more as well, with the last pick in the round now worth 670, up from 590.

The only difference in round two is that the first pick in the round is worth 570 under the new chart.  It previously had a value of 580.  The values for all picks in rounds three through seven are unchanged.

The chart has been revised due to the dramatic increases in the contracts paid to the first few players selected in the draft.  The financial investment required when exercising such a high pick necessarily has reduced the total value of these picks, necessitating a reduction in the total perceived trade value of the top selections.

The apparent reason for the 100-point gap between the bottom of round one and the top of round two is that the last player drafted in round one can be signed to a five-year deal.  At the top of round two, the maximum duration is four years.

Under that theory, however, the difference between picks No. 16 and No. 17 should be more than 40 points, since the maximum contract length at the top half of round one is six years.

It remains to be seen whether the new chart becomes widely used by NFL teams.  It's clearly an improvement, however, over the outdated chart that was developed in the 1990s.