Ableauctions Enters into Agreeement with West Coast Estates Auctions.Business Editors/High-Tech Writers FIFE Fife, council area, Scotland Fife, council area (1993 est. pop. 351,200), 510 sq mi (1,322 sq km), and former county, E Scotland, between the Firth of Forth and the Firth of Tay. The land rises to 1,500 ft (457 m) in the Lomond Hills. , Wash.--(BUSINESS WIRE)--Nov. 21, 2003 Ableauctions.com Inc. (AMEX AMEX See: American Stock Exchange :AAC (Advanced Audio Coding) An audio compression technology that is part of the MPEG-2 and MPEG-4 standards. AAC, especially MPEG-4 AAC, provides greater compression and better sound quality than MP3, which also came out of the MPEG standard. ) (the "Company") announced today that is has entered into an agreement with West Coast Estates Auctions, one of the most successful family-operated auction houses on the American West Coast, to broadcast their auctions over the Internet for a period of three years. Under the terms of the agreement, effective November 15, 2003, Ableauctions will broadcast all of West Coast Estates Auctions' live auctions exclusively for a period of three years either on its own technology or through its alliance with eBay Live Auctions. West Coast Estates Auctions is a fourth-generation auction company specializing in fine art and antiques, and conducts specialty sales of native art and artifacts artifacts see specimen artifacts. bi-annually. Over the course of 25 years they have become one of the largest specialists in native art and artifacts in Canada, offering over 5,000 museum quality articles every year and growing. Their antique antique. The term has been used collectively to designate classical Greek and Roman works of art, particularly sculptures; as an adjective to indicate an object, a period, or a style of ancient or early times; and as a noun, for objects of art, furniture, rugs, and fine art division offers over 10,000 items annually. The online technology services provided by the Company have enabled West Coast Estates to explore the horizons of a worldwide marketplace and provide their consignors international exposure for their artifacts. By the same token, buyers from around the world are able to participate live in the auctions as though they were present in the audience. About Ableauctions.com Ableauctions.com is a high-tech auctioneer AUCTIONEER, contracts, commerce. A person authorized by law to sell the goods of others at public sale. 2. He is the agent of both parties, the seller and the buyer. 2 Taunt. 38, 209 4 Greenl. R. 1; Chit. Contr. 208. 3. that conducts auctions live and simultaneously broadcasts them over the Internet. With the experience of 3,000 auctions, the Company has developed its own technology to broadcast auctions over the Internet (www.ableauctions.com/technology) and currently provides the 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 Investor relations The process by which the corporation communicates with its investors. at investorrelations@ableauctions.com. About iCollector.com iCollector.com is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Ableauctions and is the independent connection to the world's auction houses. Founded in 1994, it was the first company dedicated to trading antiques, fine art and premium collectibles on the Internet. Today iCollector.com represents some of the world's leading auction houses. Since January 2001, its alliance with eBay Live Auctions has resulted in hundreds of Live Auctions being broadcast in real-time, directly to the salesroom as the auction happens, selling tens of thousands of lots to many thousands of users online. With its unparalleled understanding and expertise in this sector, iCollector can help you to maximize your opportunities to find, buy or sell art, antiques and collectibles online. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Act of 1934 and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by these sections. Such forward-looking statements involve known and unknown risks, a reliance on third parties for information, uncertainties 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 auction houses, our ability to implement our inventory procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. 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 filed 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. |
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