Unsold players could be called back into the auction on day two, if requested by any franchise.
Out of a total of 1,122 players who had registered for the auctions, 578 will be in the race to get a contract.
Pandey's name immediately set paddles into motion, and from a base price of Rs 1 crore his value soared in quick time.
And Sunrisers Hyderabad, who will be led by David Warner, made Manish Pandey and Afghanistan spinner Rashid Khan their two most expensive acquisitions. Gambhir being an regular and consistent opener for India grabbed attraction during the 2011 IPL auction where Kolkata Knight Riders (KKR) purchased him for U.S. $2.4 million. Gautam Gambhir sold for Rs 2.80 Crores for Delhi Daredevils, while former captain of Kings XI Punjab Glenn Maxwell was sold for Rs 9 Crores. Young Indian Batsmen Karun Nair was sold to Kings XI Punjab for Rs 5.60 Crores. In the auction process that started from Saturday (January 27), Punjab bought him for Rs 7.6 crore.
The out of favour Indian off-spinner Harbhajan Singh, who represented three-time champions Mumbai Indians in all the 10 seasons so far, will play for Chennai Super Kings in the 11th edition of IPL. "They won't easily do away with Rs two crore in which they can buy couple of solid uncapped Indian players", another official concluded. Aaron Finch brought by Kings XI Punjab with an amount of Rs 6.20 Crores. New Zealand's Kane Williamson also went back to his old franchise, Sunrisers, for INR 3 crore (USD 468,000 approx) - without the use of a RTM.
Faf du Plessis was retained by CSK for only Rs 1.60 crore while Rajasthan Royals used RTM to retain Ajinkya Rahane for Rs 4 crore (USD 630,000).
As many as 21 players have ended up being unsold, including the likes of Murali Vijay, James Faulkner, Chris Gayle among others.
RCB stunned the cricket fraternity by nabbing Yuvraj for $2.33 million, which was approximately INR 14 crores.
"I was a bit under the weather, so came home early and managed to watch the auctions live", he said adding "I got a call from the Royals' team manager (Arun Dev) who then informed me of the proceedings".