Sancy I of Portugal. Henry III of France suffered from premature baldness and tried to conceal this fact by wearing a cap. As diamonds were becoming increasingly fashionable at the time, Henry arranged to borrow de Sancy's diamond to decorate his cap. Henry IV also borrowed the stone, for the more practical purpose of using it as security for financing an army. Legend has it that a messenger carrying the jewel never reached his destination, but de Sancy (by then Superintendent of Finance) was convinced that the man was loyal and had a search conducted until the site of the messenger's
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