Auctions have been in practice for time immemorial for sale of various products from art, jewellery, property, electronics, antiques, furniture and many more. In lieu of this we have developed auction platforms for various industries.
Centerac’s auction engine has power sales of large real-estate, rough diamonds and textile fiber. We developed, maintain and ran each auction cycle for Bharat Diamond Bourse (BDB), Mumbai, the largest bourse worldwide, who needed to sell their office space. KPMG were brought in as audit partners.
For the first time rough diamonds were auctioned by Arjav Bids, where Centerac again ran the entire system, from online registration, live auctions, and announcing the winners. This was teamed with KPMG auditing the business process.
A similar tender platform was built for one of the pioneers in the diamond auction initiative- Tony’s Auction World (run by Diasqua).