Rules of IPL Auction 2011

Auction for IPL 2011 – Season 4 will take place on January 8 and 9 in Bangalore. Total 416 players would be put for auction in British style.

As per rules, each player want to be auction must mention reserved price. With this rule, franchise owners would not be able to bid lower than what is reserved by player itself. Player is allowed to set reserve price between $20,000 to $400,000 USD.
Only 12 players were retained by the IPL franchise for the upcoming season 4. This includes Sachin Tendulkar, Harbhajan Singh, MS Dhoni, Malinga, Virat Kohli, Kieron Pollard, Suresh Raina, Murali Vijay, Albie Morkel, Virendra Sehwag, Shane Watson and Shane Warne. Of this KKR, Kings XI Punjab and Deccan Chargers released all their players.
Each franchise will have $9 Million to spend if it has not retained any player. With each retention of player, cap gets reduced.

No. of Players Retained	Revised Allowed Spending
1	$7.2 Million
2	$5.9 Million
3	$5 Million
4	$4.5 Million

Below is list of players with their resereved Tiers.
First Tier ($400,000): Daniel Vettori, Brendon McCullum, Ross Taylor, Adam Gilchrist, Brett Lee, Shaun Marsh, James Anderson, Kevin Pietersen, Stuart Broad, Graeme Swann, Luke Wright, Michael Yardy, Rahul Dravid, Anil Kumble, Yuvraj Singh, Graeme Smith, AB de Villiers, Mahela Jayawardene, Tillakaratne Dilshan, Brian Lara, Chris Gayle.
Second Tier ($300,000): Jacques Kallis, Muttiah Muralitharan, Zaheer Khan, Yusuf Pathan, Shaun Tait, Andrew Symonds, Angelo Mathews and Kumar Sangakkara.
Third Tier ($200,000): Sourav Ganguly, Gautam Gambhir, Shakib Al Hasan, Michael Hussey, Doug Bollinger, Dirk Nannes, Eoin Morgan, Robin Uthappa, Sanath Jayasuriya and David Hussey.