Auto Remarketing staff writer, Sarah Rubenoff sat down with Nancy to discuss the strides that Xcira has made and will continue to make in the auction industry.
Throughout the years since its inception almost 20 years ago, Xcira Corp. has been a leader in auction technology innovation.
From innovation in simulcast and digital auctions to securing real-time audio and video for remote audiences, the company has been a leader in the industry — evident through its numerous patents throughout the years.
To learn a bit more about the company’s impact on the auction industry, Auto Remarketing spoke with with Nancy Rabenold, chief executive officer and co-founder of Xcira Corp. and a member of the 2014 class of Women in Remarketing.
Xcira’s role in innovative technology began when the company filed its first patent application in May of 2000, recalls Rabenold.
Years of Advancement
When the company was founded, Rabenold says she identified hundreds of “needs” in the auction industry, noting there were many opportunities for the application of technology to “remove friction for buyers and sellers or improve operational and transactional efficiencies within the auction process.”
At that time, though, the idea of digital auctions was still new, and many in the industry remained cautious.
“In fact, the most prevalent needs before technology could succeed involved the elimination of the barriers to entry by satisfactorily answering such questions as: ‘Will buyers bid sight unseen?’ and ‘Will the introduction of technology have negative consequences in the lane?’” said Rabenold.
Regardless of what cautions abounded, Rabenold pushed forward, and the first patent secured in 2000 — U.S. patent No. 6,813,612 — worked to enable individuals to participate in live auctions from remote locations, simply by using an Internet connection and a computer.
This patent helped to break down some of the barriers between digital and brick-and-mortar auctions and helped lay the foundation for simulcast auctions.
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