2017 IPL auction: How does the IPL auction work?
The 2017 IPL auction is just two days away and the teams have identified their needs going into the gala event.
The 2017 IPL auction is just two days away and the teams would have identified their requirements going into the auction. A total of 352 players will go under the hammer out of which a maximum of 75 players can be purchased by the teams. Out of these 75 players, 28 can be overseas professionals.
This will be the last auction in the 10-year cycle and the teams are not expected to splash their money in the upcoming event as the players will go back into the auction pool for the fresh set of auctions in 2018. In spite of this, the likes of Ben Stokes, Jason Roy and Corey Anderson are likely to fetch a lot of money.
Once again, the auction will be hosted by renowned Welsh auctioneer, Richard Madley. Let us take a look at how the IPL auctions work.
- The 351 players available for the auction will be sorted into groups based on their role and then split into pots.
- The auctioneer will announce the player’s name and teams will start bidding for the player starting from the base price.
- The representatives of the teams will have to raise their team paddle to make a bid. The team with the highest bid will get the player.
- The bidding will continue till all the other teams back out and the auctioneer announces that the player is sold.
- A player will go unsold if none of the teams raise their paddle.
- The unsold players will come back into the pool after all the players go under the hammer for the first time.
- The auctioneer will give the teams an option of listing the unsold players they are interested in, and will start the bidding war for those players for a second time with the base price of the player slashed to half of the original price.
- The players who are not bought by the franchises for the second time will remain unsold in the IPL auction.
In previous auctions, there existed a provision for a secret bid wherein the teams that were interested in buying a particular player would submit their bids separately to the auctioneer and the franchise with the highest bid would get him.