Sancy Astor family possessed it for 72 years until the 4th Viscount Astor sold it to the Louvre for $1 million in 1978. The Sancy now rests in the Apollo Gallery, sharing attention with the likes of the Regent and the Hortensia. Sancy The Sancy, a pale yellow diamond of , was once reputed to have belonged to the Mughals of antiquity, but is more likely of Indian origin owing to its cut, which is unusual by Western standards. The shield-shaped stone comprises two back-to-back crowns (the typical upper half of a stone) but lacks any semblance to a pavilion (the
Auction without a "reservation price" (or "reserve"), with the item sold to the highest bidder. Auctions are publicly and privately seen in several contexts and almost anything can be sold at auction. Some typical auction arenas include the following: Although less publicly visible, the most economically important auctions are the commodities auctions in which the bidders are businesses even up to corporation level. Examples of this type of auction include: Katehakis and Puranam provided the first model for the problem of optimal bidding for a firm that in each period procures items to meet a random demand by participating in a