Editor’s Notebook: Xcira’s Nancy Rabenold on the Role Dealers Play in Online Auctions

By Jon LeSage, Edi­tor, Used Car Mar­ket Reports

Dur­ing a video inter­view last week with Auto­mo­tive Digest, Nan­cy Rabenold, CEO and co-own­er of Xci­ra, talked about what it’s been like to cre­ate live simul­cast auc­tions for the auto­mo­tive space. Xci­ra also works with oth­er audi­ences beyond deal­ers and auc­tions includ­ing sal­vage auto­mo­tive, the cat­tle indus­try, fine art, heavy con­struc­tion, coins and stamps, wine, and oth­er indus­tries. That brings a lot of broad per­spec­tive to whole­sale vehi­cle sales. Along with being rec­og­nized as a pre­mier tech­nol­o­gy inno­va­tor in online auc­tions, Xci­ra has recent­ly added inspec­tion ser­vices to its offer­ings.

Deal­ers and whole­salers have grown accus­tomed to using Xcira’s OnLine Ring­man prod­uct that inte­grates the remote audi­ence into the onsite audi­ence at a tra­di­tion­al auc­tion. Rabenold said that the cur­rent state of tech­nol­o­gy with auc­tions and retail vehi­cle sales chan­nels is one of trans­for­ma­tion where deal­ers can play a vital role. That can come from pro­vid­ing a con­sol­i­dat­ed vision on what should be hap­pen­ing with indus­try-wide adop­tion of advanced tech­nolo­gies in the auc­tion space.

Xci­ra start­ed up with the busi­ness name of Auc­tion Man­age­ment Solu­tions, Inc. (AMS) in 1996. The com­pa­ny began by sell­ing web­site development/hosting ser­vices and con­duct­ing online auc­tions; the first Ring­man event took place in 1999. The com­pa­ny changed its name to Xci­ra in 2009 to acknowl­edge the wide diver­si­ty of ser­vices offered to the auc­tion indus­try.

Xci­ra has been rec­og­nized for bring­ing new tech­nolo­gies to the remar­ket­ing indus­try. Live simul­cast auc­tions are one of the most impor­tant upstream chan­nels used by OEMs, finan­cial insti­tu­tions, deal­ers, and con­signors these days. This week’s video seg­ment shows Rabenold describ­ing the role that Xci­ra plays in the auto­mo­tive space, along with its lat­est ser­vice offer­ings.

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