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.