Tristan Stubbs was the most expensive player in the auction for the inaugural SA20, as Sunrisers Eastern Cape paid 9.2 million rand ($520,000) for the middle-order batter.
The 22-year-old only made his debut for South Africa in June, and has played six T20 internationals.
Pretoria Capitals paid the second-highest price of 6.9 million rand for batter Rilee Rossouw.
However, South Africa's T20 captain Temba Bavuma and Dean Elgar, the Proteas' Test captain, both went unsold in Cape Town on Monday.
Other big-price players included all-rounder Marco Jansen (6.1m rand to Sunrisers), left-arm seamer Wayne Parnell (5.6m rand to Pretoria Capitals) and fast bowler Sisanda Magala (5.4m rand to Sunrisers).
All six franchises for the SA20 have been bought by companies which own sides in the Indian Premier League (IPL), but no Indian players will play in the first iteration of the SA20.
England leg spinner Adil Rashid joined the Capitals for 2.4m rand, while former England white-ball captain Eoin Morgan was acquired by Paarl Royals for 2m rand after going unsold in the first round of the auction.
Jason Roy, who was dropped by England for the T20 series in Pakistan and the upcoming T20 World Cup, was also picked up by the Royals for 1.5m rand.
Johannesburg Super Kings bought new England batsman Harry Brook and West Indies fast bowler Alzarri Joseph, paying 2.1m rand for both players, and Super Kings assistant coach Eric Simons admitted the side had to adapt quickly during the auction.
"We spent the weekend trying to figure out who we were going to sign and we were happy we had everything sorted out - then the numbers just blew us out of the water and we had to change tack," Simons told BBC Sport Africa.
"But we know you have to go in with fancy footwork and adjust at quick notice, and we are very happy with where we ended up.
"We have good balance with some youngsters and experience. We believe these tournaments are won with experience."
SA20 commissioner Graeme Smith hopes the new league will become the second-biggest T20 league in the world behind the IPL.
The inaugural season will begin on 23 January and last for about a month, with Smith saying the SA20 would take precedence over the latter stages of Australia's Big Bash when it came to player availability.
SA20 squads in full
Durban Super Giants: Quinton de Kock, Prenelan Subrayen, Jason Holder, Kyle Mayers, Reece Topley, Dwaine Pretorius, Heinrich Klaasen, Keemo Paul, Keshav Maharaj, Kyle Abbott, Junior Dala, Dilshan Madushanka, Johnson Charles, Matthew Breetzke, Christiaan Jonker, Wiaan Mulder, Simon Harmer.
Johannesburg Super Kings: Faf du Plessis, Gerald Coetzee, Maheesh Theekshana, Romario Shepherd, Harry Brook, Janneman Malan, Reeza Hendricks, Kyle Verreynne, George Garton, Alzarri Joseph, Leus du Plooy, Lewis Gregory, Lizaad Williams, Donavon Ferreira, Nandre Burger, Malusi Siboto, Caleb Seleka.
MI Cape Town: Kagiso Rabada, Dewald Brevis, Rashid Khan, Liam Livingstone, Sam Curran, Rassie van der Dussen, Ryan Rickelton, George Linde, Beuran Hendricks, Duan Jansen, Delano Potgieter, Grant Roelofsen, Wesley Marshall, Olly Stone, Waqar Salamkheil, Ziyaad Abharams, Odean Smith.
Paarl Royals: David Miller, Corbin Bosch, Jos Buttler, Obed McCoy, Lungi Ngidi, Tabraiz Shamsi, Jason Roy, Dane Vilas, Bjorn Fortuin, Wihan Lubbe, Ferisco Adams, Imraan Manack, Evan Jones, Ramon Simmonds, Mitchell van Buuren, Eoin Morgan, Codi Yusuf.
Pretoria Capitals: Anrich Nortje, Migael Pretorius, Rilee Rossouw, Phil Salt, Wayne Parnell, Josh Little, Shaun von Berg, Adil Rashid, Cameron Delport, Will Jacks, Theunis de Bruyn, Marco Marais, Kusal Mendis, Daryn Dupavillon, Jimmy Neesham, Eathan Bosch, Shane Dadswell.
Sunrisers Eastern Cape: Aiden Markram, Ottniel Baartman, Marco Jansen, Tristan Stubbs, Sisanda Magala, Junaid Dawood, Mason Crane, JJ Smuts, Jordan Cox, Adam Rossington, Roelof van der Merwe, Marques Ackerman, James Fuller, Tom Abell, Aya Gqamane, Sarel Erwee, Brydon Carse.