A series of four different M10 selenide cluster molecules of the general formula [M10Se4(SePh)12(PR3)4] (M = Zn, Cd, Hg; R = organic group) have been synthesized by the reaction of metal chlorides MCl2 (M = Zn, Cd, Hg) with phosphanes PR3, Se(SiMe3)2 and PhSeSiMe3 in organic solvents. The investigations of the thermal properties by thermogravimetric analysis (TGA) reveal that [Zn10Se4(SePh)12(PnPr2Ph)4], [Cd10Se4(SePh)12(PEt3)4], [Cd10Se4(SePh)12(PnPr3)4] and [Hg10Se4(SePh)12(PnPrPh2)4] form the corresponding bulk chalcogenides in mainly two‐ or three‐step processes. From the intermediate product of the first step of the vacuum thermolysis of [Cd10Se4(SePh)12(PnPr3)4] we were able to obtain in solution the larger cluster molecule [Cd32Se14(SePh)36‐(OC4H8)4] and upon addition of OPPh3 its homologue [Cd32Se14(SePh)36(OPPh3)4]. The structures of both molecules have been determined by single‐crystal XRD. Obviously, the smaller Cd10 cluster grows upon thermal treatment in the solid state to form larger cluster cores. However, optical spectra and dynamic light scattering of the dissolved residues reveal that this growth is not totally specific. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2005)