Benaco Sales Ltd. - Auctioneers, Liquidators, Appraisers & Insurance Salvors
Benaco Sales Ltd
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Benaco Sales Ltd. conducts 30 - 40 major industrial auctions annually.
All auctions are open to the public. Auctions are held either on the premises of the company being sold, or the assets are moved to a more suitable location, as pre-determined by the secured creditor. Most sales are done on behalf of banks, lending institutions, landlords, and private businesses. They consist mainly of assets made available through some form of distress, including bankruptcy, receivership, lease termination, distraint, or default. In many instances, assets are moved to our storage and auction warehouse for safekeeping. Assets are always sold on an "As Is, Where Is" basis, free and clear of any liens and encumbrances.
Asset appraisals have become one of the most effective tools used by financial institutions, landlords, and business partners before making important financial decisions. Appraisals are conducted in 3 different formats, Forced Liquidation, Going Concern, Or Replacement Cost.
We gladly accept consignments which meet our criteria. If you have assets to liquidate or auction off, please send us an
with digital pictures of the equipment with all counts, however, we do not accept consignments with reserves.
The most common form of appraisal used by financial lenders in order to determine options. This form of appraisal is based on Gross Selling Price in a distressed situation, and will incorporate selling prices with detailed asset listings. Values are bases on fair market selling prices, on a per piece basis, using comparable assets sales within the last 3 months as a price guideline.
This form of appraisal is often used by a financial institution when attempting to determine a fair market value for assets that may be sold in place, to be used for the same or similar activities. It takes into consideration certain variables, such as installation and setup costs, but does not rely on financial information, i.e. sales, A/R, etc. The values will be higher than those of forced liquidation, but will still reflect age and usage of equipment.
This is the newest and most important aspect of the Small Business Loan Financing Program. In order to qualify for financing on an existing establishment, an accredited, bank accepted appraiser must conduct a thorough replacement cost appraisal. This appraisal, similar to other formats, will include a detailed asset listing, but will also take into consideration both setup costs, and leasehold improvements. The purpose of this appraisal is to validate the amount of money previously spent to create the establishment, thus fulfilling a financing requirement of the Federal Government of Canada.
WAREHOUSING AND STORAGE
of our Industrial Auctions are conducted from our 12000 sq. foot auction warehouse. This facility includes a gated and fenced yard, drive in and dock level shipping, full security including 10 closed circuit cameras, cleaning and testing facilities, and our complete modern computerized accounting system which allows instantaneous information. In many cases, assets need to be removed from their premises immediately. Through our extensive network, we have the capability to arrange complete company extractions within hours of notice, sometimes instantly. We have a standby crew of insured truckers, riggers, electrical, plumbing, and refrigeration professionals in order to ensure proper and professional company moves, with no exposure or liability to the financial institution or it's agents. Assets are stored until PPSA Notices expire, with minimal storage costs. We maintain all proper insurance policies, including liability, theft, and goods in transit and we maintain an umbrella policy from any location within Canada. We also maintain an additional 10000 sq. foot warehouse within 5 minutes of our main warehouse.