Why is this auction significant?
IPL Auctions - Ready Reckoner

This is the big reshuffle. The team lists for all franchises have almost been wiped clean. Apart from a few players who have been retained by franchises, everyone else has gone into the auction pool and will go under the hammer. More than 500 players will be up for grabs.
So teams will, once again, get to form their core for the future. Teams will also use the auction to restructure their team and try and form a more formidable combination that can give them success. A major bidding war is likely so as to get the early-mover advantage and form the best team that can serve them well over the next few years.
There will be smaller auctions in the following years but teams by then will already have their core team and just look for minor additions.
When is it happening?
On 27th and 28th of January, 2018 in Bengaluru.
What are the purse and RTMs available for each franchise?
Each team doesn't carry the same amount of money into the auctions. There have been deductions based on the number of