Sancy after a devastating defeat, James took shelter under Louis XIV of France, a fickle host who tired of his exiled guest. Facing destitution, James had no choice but to sell the Sancy to Cardinal Mazarin in 1657 for the reported sum of £25,000. The cardinal bequeathed the diamond to the king upon his death in 1661. The Sancy was thus domiciled in France but disappeared during the French Revolution when brigands raided the Garde Meuble (Royal Treasury). As well as the Sancy, other treasures stolen were the Regent diamond, and the French Blue diamond which is known today as the
English auction a Dutch auction would adjust the price in a direction that favored the bidders (lowering the price if the item is being sold to competing buyers, increasing it, if it is a reverse auction). When the auction involves a single item for sale and each participant has as an independent private value for the item auctioned, the expected payment and expected revenues of an English auction is theoretically equivalent to that of the Vickrey auction, and both mechanisms have weakly dominant strategies. Both the Vickrey and English auction, although very different procedurally, award the item to the bidder with the