The player auction was held on 6 February 2009 in Goa. There was a two-million dollar cap for teams buying at the auction. The following acquisitions were made:
| Player | Franchise | Price (USD) |
|---|---|---|
| Shah, Owais Owais Shah | Delhi Daredevils | 275,000 |
| Collingwood, Paul Paul Collingwood | Delhi Daredevils | 275,000 |
| Edwards, Fidel Fidel Edwards | Deccan Chargers | 150,000 |
| Smith, Dwayne Dwayne Smith | Deccan Chargers | 100,000 |
| Pietersen, Kevin Kevin Pietersen | Bangalore Royal Challengers | 1,550,000 |
| Ryder, Jesse Jesse Ryder | Bangalore Royal Challengers | 160,000 |
| Henderson, Tyron Tyron Henderson | Rajasthan Royals | 650,000 |
| Tait, Shaun Shaun Tait | Rajasthan Royals | 375,000 |
| Flintoff, Andrew Andrew Flintoff | Chennai Super Kings | 1,550,000 |
| Thushara, Thiland Thilan Thushara | Chennai Super Kings | 140,000 |
| Bailey, George George Bailey | Chennai Super Kings | 50,000 |
| Duminy, JP JP Duminy | Mumbai Indians | 950,000 |
| Mills, Kyle Kyle Mills | Mumbai Indians | 150,000 |
| Mohammad Ashraful | Mumbai Indians | 75,000 |
| Bopara, Ravi Ravi Bopara | Kings XI Punjab | 450,000 |
| Taylor, Jerome Jerome Taylor | Kings XI Punjab | 150,000 |
| Mashrafe Mortaza | Kolkata Knight Riders | 600,000 |
