Asset & Bankruptcy Auctions

As a leading auctioneer in the Toronto area, Canam regularly conducts auctions of industrial equipment, tools and machinery, as well as retail and consumer products and store fixtures. Our services can be tailored to fit the specific needs of the seller and are designed to maximize market exposure while ensuring a convenient and cost-effective solution for both buyers and sellers.

The key to a successful auction sale is effective advertising. Canam advertises across a variety of business verticals in the industrial, wholesale and retail sectors to maximize exposure.

Types of Auctions

Auctions are advertised through major media outlets and are OPEN TO THE PUBLIC. Depending on the industry, asset variety and plant location, Canam will implement the most effective advertising and auction mediums available to maximize sales proceeds.

Onsite Auctions (Existing asset location)
Offsite Auctions (Assets are transported to client’s desired location)
Warehouse Auction (Assets are transported and held at Canam’s facilities)
Online Auction (Assets are sold in real time online)
Online Timed Auction (Assets available for sale during a specified time period)
E-commerce Auction (Assets are sold through third-party E-com providers)

Deposits

To ensure that the auction is attended by serious bidders only, Canam requires that an earnest deposit be paid in advance of the event. This deposit is fully refundable and will be returned in the case of unsuccessful bids.

Buyer’s Premium

Canam charges a small percentage, known as a Buyer’s Premium, to cover auction costs. This fee is 16%. For payments made by cash or certified cheque, the Buyer’s Premium is 13%.

Absentee Bids

If individuals are interested in bidding on items at one of our upcoming auctions but are unable to attend, they are welcome to submit an Absentee Bid Form. This allows one of your company representatives to place bids on your behalf at the auction

Warranties

While we make every effort to provide accurate information about the history, condition and usage for auction items, they are sold on an “as is” and “where is” basis.