Australian all-rounder James Hopes and Pakistan batsman Misbah-ul Haq lead the list of 14 players signed up to play in a second 'auction' for the lucrative Indian Premier League.

Australia's Hopes walked away with the highest bid of the day after he was snapped up for $300,000 by Mohali.

Misbah was bid for $125,000 to play for Bangalore, owned by Indian billionaire Vijay Mallya. The team also picked New Zealand batsman Ross Taylor for $100,000.

The team owners, ranging from India's premier industrialists to a leading Bollywood actor, completed their signings ahead of the deadline for submitting teams, 30 days before the 44-day tournament kicks off on April 18.

Tuesday's auction was a scaled-down version of the initial phase when Indian limited overs captain Mahendra Dhoni and Australian all rounder Andrew Symonds attracted the highest bids of $1.5 million and $1.3m respectively.

Pakistan's premier batsman Mohammad Yousuf did not find takers but will get a retainership being paid for all contracted players with the Board of Control for Cricket in India.

South African batsman Ashwell Prince was bid for $175,000 to play for Mumbai while Mohali coughed up $150,000 to get New Zealand fast bowler Kyle Mills.

Australian fast bowler Shaun Tait, one of 12 other players who had shown interest in the league, was not considered because his offer came in too late, organisers said.

Talented Australian all-rounder Watson, who has endured a stop-start career after struggling with injuries, was secured for $125,000 by the Jaipur team, who will be captained by retired Australian spinner Shane Warne.

Warne's Hampshire team-mate Dmitri Mascarenhas also signed with the outfit.

All but two players from India's under-19 World Cup winning squad found takers, paying a fixed player fee of $30,000, with the franchises allowed to choose them on an NBA-style 'draft' format.

Full list of players signed on Tuesday:

Dmitri Mascarenhas (England) - $100,000 - Jaipur

Shane Watson (Australia) - $125,000 - Jaipur

Sohail Tanvir (Pakistan) - $100,000 - Jaipur

Morne Morkel (South Africa) - $60,000 - Jaipur

James Hopes (Australia) - $300,000 - Mohali

Kyle Mills (New Zealand) - $150,000 - Mohali

Luke Pomersbach (Australia) - $50,000 - Mohali

Misbah-ul Haq (Pakistan) - $125,000 - Bangalore

Ross Taylor (New Zealand) - $100,000 - Bangalore

Abdur Razzak (Bangladesh) - $50,000 - Bangalore

Salman Butt (Pakistan) - $100,000 - Kolkata

Mohd. Hafeez (Pakistan) - $100,000 - Kolkata

Ashwell Prince (South Africa)- $175,000 - Mumbai

Brett Geeves (Australia) - $50,000 - Delhi

Reuters