India, Nov. 28 -- Now that the dust has settled and money spent, it's time to step back and look at what unfolded in Jeddah. Obviously, the IPL auction is about money, it is the players' Sensex where the dance of market forces decide who is worth what. With the rise and fall of the paddle many luck out; for others, the luck runs out.

This time there were some amazing - perhaps bizarre - buys. Seriously, Venkatesh Iyer at Rs.23.75 crore? Nobody, absolutely nobody, is worth that much. At that price you'd expect the player to win 4-5 games, but that never happens.

Deciding player price is a complex art, essentially an interplay of demand-supply plus desperation on the part of the buyer. LSG wanted Rishabh Pant badly so they stretched and s...