Ableauctions Announces U.S. Live Auctions Account for $203 Billion Annually, According to Research.

FIFE, Wash. -- Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that, for the first time, groundbreaking auction-industry research documented that live auctions account for $203.2 billion a year in sales. It also noted that more than 50 percent of Americans have attended live auctions.

According to MORPACE International, last year the value of all goods and services sold at live auction in the U.S. was $203.2 billion. This represents a strong 4 percent jump over sales of $189.8 billion in 2002. More than 50 percent of adult American consumers have attended a live auction, and 24 percent did so in the last year.

Harris Interactive noted that 83 percent of Americans have attended an auction of some kind, and 63 percent did so in the last year. Live auctions resonate with consumers as a fun, family activity. Seventy five percent say auctions are fun, and 50 percent say having fun is the reason they attend live auctions. The top reasons Americans attend live auctions are the excitement of getting a good price (53 percent), they like to see what types of purchases are available (51 percent) and they get great purchase value (51 percent). Consumers who participate in live auctions typically take part in other auctions, such as online. Live-auction buyers spend almost twice as much as online buyers ($988 vs. $475). The Midwest has the greatest number of participants (34 percent) and purchasers (58 percent) in the U.S.

The study results were announced today at the NAA's 55th International Auctioneers Conference and Show in Madison, Wis. "The exhaustive report from Harris Interactive and MORPACE International is of great benefit to our 7,000 worldwide members," said NAA CEO Robert A. Shively, CAE. "It's gratifying to know that our gross sales topped $200 billion last year, that we're a growing, thriving industry and that the public has such high enjoyment and regard for our services."

The full results of the study are available online at www.auctioneers.org. News courtesy of National Auctioneers Association.

About National Auctioneers Association

With more than 7,000 members from throughout the world, the National Auctioneers Association is the largest organization of its kind dedicated to promoting the auction method of marketing and enhancing the professionalism of its members. Member benefits range from federal legislative representation to comprehensive continuing education programs, including coursework to earn the following professional auctioneer designations: Certified Auctioneers Institute (CAI), Accredited Auctioneer, Real Estate (AARE), Graduate, Personal Property Appraiser (GPPA) and Certified Estate Specialist (CES). The organization was founded in 1949 and is headquartered in Overland Park, Kan. For more information on the NAA and its programs, log on to www.auctioneers.org.

About iCollector.com

iCollector.com is a wholly owned subsidiary of Ableauctions and is the independent connection to the world's auction houses. It was the first company dedicated to trading antiques, fine art and premium collectibles on the Internet and today represents some of the world's leading auction houses. Since January 2001, it has broadcast hundreds of live auctions in real-time on eBay Live Auctions, directly from the salesroom as the auction happens. iCollector can help you find, buy or sell art, antiques and collectibles online.

About Ableauctions.com

Ableauctions.com is a high-tech auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. With the experience of over 3,000 auctions, the Company has developed state-of-the-art technology to broadcast Internet auctions (www.ableauctions.com/technology) and currently provides technology and related services to auction houses, enabling them to broadcast auctions over the Internet. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations at [e-mail].

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and the Company's business strategy. These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the performance of our on-line auction business, our ability to implement our inventory procurement strategy, general economic conditions, our ability to license our software to other auction houses, our ability to acquire profitable companies and integrate them into our business successfully and other factors that are detailed in our Annual Report on Form 10-KSB and on documents we file from time to time with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from the Company's expectations and estimates. The Company does not realize nor book the full revenue of auctions that it facilitates in its financials, only the net auction fees, that can vary from time to time, that it realizes.