This article makes me think that by the end of the offseason we will not feel that 4/32 is an overpay.
http://www.basketballinsiders.com/enormous-contracts-are-the-nbas-new-reality/
Bradley isn't really in the same market as Livingston and Meeks though. As a restricted free agent, teams would have been reluctant to offer him a contract because as soon as the offer sheet is signed, that cap space is gone unless/until we match. Early in free agency, no one was going to give up three days of negotiating with other free agents when there was a chance we could match and make it all for nothing. What probably would have happened is that no one would pursue Avery until all the unrestricted free agents were signed, and at that point there would be fewer teams with cap space and less leverage for Avery.
He's in the same market as Isaiah Thomas, who seems to have had no trouble pulling in an $8 mill per year offer, which he hasn't yet accepted, implying that there is more to be had. Hayward might get a max offer as a restricted free agent.
Both the Celtics and Bradley had risk. The Celtics had risk that some other team would come in and offer even more, after they'd struck out on someone they were saving cap room, while Bradley had the opposite risk that teams would fill up before wasting time with a restricted free agent who's team was likely to match. The Celtics called a lot of guards on July 1st -- they had a very, very good idea of what the market could turn into, and have a heck of a lot more information than anyone on this board, and probably a little more than Bradley's side did. Could it turn into a bit of an overpay? Yes, they probably went high to keep Bradley from looking too closely elsewhere. Time will tell whether it was a bargain or not, but if they overpaid, it was at most a $1 million per year overpay, and likely less. And if they got a bargain, it was probably about the same amount.