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If I were the agent representing pick #33, I'd argue they he deserves the slotting, salary and advantages of pick #32 since he was the 32nd player taken.....
Two things here:
(1) The CBA specifically makes a distinction between first-round picks and non-first-round picks, so this is a moot point negotiation-wise.
(2) Given the choice, would you rather be "#32" (where the team has a fifth-year option) or "#33" (where the team doesn't)?