Being the Proteas white-ball leader, the right-hander looked like a lock to be picked in the inaugural T20 league.
As such, the decision was taken along with his agent to set his base price at R850 000.
However, as Tuesday's player auction continued, it was clear none of the franchises were interested in spending that amount on Bavuma.
In contrast, Bavuma's teammates Tristan Stubbs and Reeza Hendricks fetched a whopping R9.2m and R4.5m each.
Aside from his high base price, elements not in Bavuma's favour included his relatively average T20 strike rate of 120.6 and the fact that he was coming off an injury that has forced him out of international action since June.
"I'll be lying if I said that I didn't have any feelings of disappointment," the 32-year-old told the press this week.
"I certainly was expecting to play a role in the tournament. From my side, there are definitely feelings of disappointment and also feelings of almost being let down in a way.
"I don't think that comes from any point of entitlement from my side...you want to be selected on merit or whatever credentials you have."
Bavuma's comments come on the eve of South Africa's departure to India for a crucial white-ball tour, the last opportunity for a tune-up ahead of the T20 World Cup.
"I am cautioning myself to not delve too deep into this whole matter," continued a measured Bavuma, who has led the Proteas in 13 ODIs and 17 T20s since being selected captain in March 2021.
"As much as I'd like to speak more about it, this is probably not the right time. Our focus right now is on India and the World Cup. We are doing what we need to do there.
"The biggest thing for me is to serve the team as best as I can. I still have the responsibility of being the captain of the team. I would endeavour to do the best as I can, as I believe I have been doing."