I’m just looking at the top 25 transfers (by money paid) in the Premier League so far in this window, which includes those that have been transferred out of the Premier League and where the value is. Who's overpaying? (see table above).

I’ll just qualify some aspects first in that the transfers are as reported on transfermarkt.com, converted from Euro to £ and exclude performance add-ons. Any errors are unintentional.

There seems to be some silly money being paid for top rated players. Can they live up to it, because sometimes they just plain don’t.

To date, Arsenal have got a bit of value. It looks like they could have got a good buy in Piero Hincapie, who's had his loan now confirmed as a transfer. Arsenal know what he's like. They've seen him play in their team, and they've probably got a relative bargain here, as they've bought him at £34M, which is around £9M under his market valuation.

Aston Villa have also been frugal so far with their top two signings. They don't seem to have underpaid for Gomez or Manzambi. Understandable with their financial constraints of the last two seasons.

Brentford have possibly overpaid for Sangare from RC Lens, which is not their normal MO, so we'll have to keep an eye on how that one works out. Maybe they know something the market doesn’t?

Brighton are always astute in their purchases and their sales, and it looks like they've underpaid for Vuskovic from Spurs by around 12% of his market value.

Arsenal, Aston Villa, Brentford & Brighton have not been drawn into price fights so far, but Arsenal may change that…

Chelsea seem to have a big wallet. It looks like they've potentially overpaid for all their top 5 big signings. Top of that list is Palestra from Atalanta. They paid £49M, or £30M above his market value, which is potentially over-payment of 63%. Morgan Rogers cost 24% more than his market value, but when you get to the top of the premium transfers, these guys always seem to attract a bigger fee than what their market value supposedly is. At 24% though he is by no means the biggest over-payment in the top 25 and could turn out to be value for money none the less. He is after all EPL proven. Along with that, Chelsea seem to have possibly overpaid for Lacroix of from Crystal Palace and Quenda from Sporting. Paying more than the odds appears to have been Chelsea's MO for a while buy signing players to long contracts to offset that.

Fulham who are usually particular about what they spend have paid £34 million for Garcia from Real Madrid, on an evaluation of £26M. That's a 30% over-payment on market value. We'll have to see how that one works out. You can't imagine Fulham, with a limited budget, would be spending their money willy-nilly, which sometimes appears to be what Chelsea does.

You would think Liverpool would be a little bit gun-shy of overspending after the Izak and Wurtz signings last season as they did not deliver on the money they forked out for them. It remains to be seen whether they turn that around and deliver this season. But again, Liverpool seem to have overpaid for Munoz from Osasuna and Jacquet from Stade Rennais. 31% for the former and 15% for the latter on their market value. If these two don't work out, I'm sure the fans will be questioning Liverpool's buying policy.

Chelsea and Liverpool again paying too much? Their policies haven’t really worked have they? …Club World Champs aside for Chelsea that is.

Manchester City's one big signature signing, Elliot Anderson, looks on paper like an over-payment of 22%, but I think Elliot Anderson could be like Declan Rice at Arsenal and turn out to be value for that money. Declan Rice was a big-money buy for Arsenal a couple of seasons ago, and I think he's proved well worth it. Will Elliot Anderson be in the same bag? Let's see.

Manchester United now have a policy of not overpaying (they pulled out of the race for Elliot Anderson because the price got too high), and they haven't overpaid for Uri Tillemans from Aston Villa. They seem to have paid pretty much the market rate there at £35M, but , they probably paid a little bit too much for Andre Santos from Chelsea at £48M. If he turns out to be like the value United buys of last season, Mbeumo and Cunha, then it could be money well spent. They cut their losses though on Rasmus Højlund selling him for 29% below market value after loaning him out last season. Win some you lose some…

Last of all are Spurs. Spurs have overpaid the most on the top 25 transfers based on fees paid. The £85M for Mateus Fernandes from West Ham is a massive 98% above his market value of £43M. I’m keen to see if Fernandes works out better than some other reasonable-sized purchases that failed to flatter last season, namely Kudos, Solanke, Tel and Simons. They've also paid a premium fee for Sandro Tonali at £92M, based on his market value of around £69M, which is 33%. However in Van Hecke from Brighton, they may have done some good business to counteract the other two. The price paid is where the market values him

Spurs aren’t just strengthening, this is a total overhaul. Man Utd are playing smart with their money, why not it worked last year because they are in the Champions League. Man City have made the signing of the window for me in Anderson. But it could be tempered by Rodri to Madrid?