The IPL 3 Auction took place on January 19, 2010 and it was a comparatively low profile auction compared to the two previous years. It was also due to the fact that the IPL franchisees had just 750,000 dollars each as the maximum limit to spend on the auction. However, there was a also a new rule this year where the franchisees could make secret ‘silent tiebreaker bids’ in case there was a tie. But the excess money from the secret bid went to IPL instead of the players who could receive only the maximum bid at 750,000 dollars. There were secret bids for two players who were Keiron Pollard and Shane Bond. They were officially sold at 750,000 dollars each but as per sources, Mumbai Indians had supposedly made secret bid of more than 2 million dollars to bag Keiron Pollard while Kolkata Knight Riders had supposedly made secret bid of more than a millon dollars for Shane Bond. The other two high priced puchases and hot bids in IPL season 3 auctions were Kemar Roach and Wayne Parnell who were bagged by Delhi Daredevils for 720,000 dollars and 610,000 dollars respectively. Others won in the auction included Mohammad Kaif (Punjab, 250,000), Eoin Morgan (Bangalore, 220,000), Damien Martyn (Rajasthan, 100,000), Justin Kemp (Chennai, 100,000), Thissara Perera (Chennai, 50,000), Adam Voges (Rajasthan, 50,000) and Yusuf Abdulla (Punjab, 50,000).

There were 66 overseas players in the final IPL 3 auction list and only 10 overseas player and one Indian player were sold. The players who were sold are as follows:

Kieron Pollard (Mumbai Indians, $750,000)
Shane Bond (Kolkata Knight Riders, $750,000)
Kemar Roach (Deccan Chargers, $720,000)
Wayne Parnell (Delhi Dardevils, $610,000)
Mohammad Kaif (Kings XI Punjab, $250,000)
Eoin Morgan (Royal Challengers Bangalore, $220,000)
Damien Martyn (Rajasthan Royals, $100,000)
Justin Kemp (Chennai Super Kings, $100,000)
Thissara Perera (Chennai Super Kings, $50,000)
Adam Voges (Rajasthan Royals, $50,000)
Yusuf Abdulla (Kings XI Punjab, $50,000)