SacoTech’s history begun in 2000 when it was founded to provide high-quality independent auction price information to diamond professionals. Since then, it has expanded to support over 1,500 diamond auctioneers, who evaluate the quality and assess the worth of each item, ensuring the professional handling of each.
SACOTECH INNOVATIVE HISTORY
The company, which began online operation since 2003, now runs the above auction platform – SacoTech. It provides IT infrastructures to other auction houses like Capecasa – who is a co-partner of SacotTech. Thus, SacotTech has become a pioneer in its “Co-sharing model” initiative.
STRATEGIC PARTNERSHIP WITH UAP
With its strategic partner – Universal Auction Program (UAP), SacoTech is poised to integrate the Blockchain technology with e-commerce, which is the essence of its strategic partnership with Universal Auction Program (UAP). Furthermore, UAP, for the first time, would allow a true Smart Contract between buyer and seller, in order to create total transparency in every transaction which would be recorded for all to see.
PRODUCTS RANGE ON OFFER
SacoTech prepares and offers for sale a wide variety of unrefined and polished diamond products, ranging from very expensive special stones, moderate priced and average priced products, thus taking every class of people into consideration. In other words, SacoTech products cover the luxury retail markets and all other classes of markets and individuals. For fuller details of their array of products on offer, including their sizes, colours, quality, categories, etc., check out their website: https://www.sacotech.com, for business enquires.
SACOTECH’S SICP PROGRAM
SacoTech’s SICP Program will certainly accelerate its upward rise in the Diamond Auction business globally, thus bringing IT technological advancement to the e-commerce space.
SACOTECH RECORDS OF ACHIEVEMENTS
The massive achievements of SacoTech, since its debut in the year 2000, are so numerous. Here is a brief summary of these accomplishments.
- 2003 – SacoTech released the first internet-based price database – sacotech.com, including auction price information for the previous 10 years.
- 2004 – SacoTech partnered with diamond miners and producers to bring their products to auction houses in the international market.
- 2008 – It acquired a team of IT veterans, who focused on the online auction technology.
- 2009 – The company launched its own online bidding platform, closing a then-whopping $13 million round of capital finance.
- 2013 – It rebranded SacoTech.com with an updated website to attract and increase online bidding, plus a better browsing experience on its website.
- 2008-2014: Between 2008 and 2014, SacoTech announced its strategic partnership with LeFigaro.fr in France, its technology partnership with eBay (to power eBay Live Auctions), and raised $33.75 million in funding.
- 2015 – In 2015, SacoTech also launched its technology partnership with Sothebys to power all online bidding on Sothebys.com.
- 2016 – The company updated its live bidding experience, launched its payment processing and offered fixed price items in partnership with premier galleries and dealers.
- 2018 – This year, SacoTech has created innovation co-invest platform for investors in Asia.
SacoTech is a global leader in the unrefined and polished diamond auctioneering business. They have an extensive network of buyers, sellers and other auction houses. SacoTech has recently, and for the first time, brought together the industry’s largest global and diverse network of registered sellers and buyers through the launch of its Auction Services, for both unrefined and polished diamonds. They have offices in South Africa, Belgium, India and Hong Kong.
Please check https://www.sacotech.com for fuller details.