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
Multiunit auction multiple buyers in different bidding rounds. To speed up this process, the initial auction price for any subsequent bidding round is set just slightly higher than the previous winning bid (around 15-20 cents, or 15-30% on average). Multiunit auction A multiunit auction is an auction in which several items are sold. The units can be sold each at the same price (a uniform price auction) or at different prices (a discriminatory price auction). A uniform price auction otherwise known as a "clearing price auction" is a multiunit auction in which a fixed number of identical units of a homogenous commodity