Sancy Hope diamond. The Sancy was in the collection of Vasiliy Rudanovsky until 1828 when purchased by Prince Demidoff for £80,000. It remained in the Demidov family collection until 1865 when sold to Sir Jamsetjee Jeejeebhoy, an Indian prince, for £100,000. He sold it only a year later, creating another gap in its history. It reappeared in 1867, displayed at the Paris Exposition, carrying a price tag of one million francs; the gem then vanished again for forty years. The Sancy next surfaced in 1906 when bought by William Waldorf Astor, 1st Viscount Astor, from famous Russian collector A.K.Rudanovsky. The prominent
Auction bid has become a binding agreement. Auctions can differ in the number of participants: Prices are "bid" by buyers and "asked" (or "offered") by sellers. Auctions may also differ by the procedure for bidding (or asking, as the case may be): Auctions may differ as to the price at which the item is sold, whether the first (best) price, the second price, the first "unique" price or some other. Auctions may set a reservation price which is the least/maximum acceptable price for which a good may be sold/bought. Without modification, "auction" generally refers to an open, demand auction, with or