Ableauctions.com Sets eBay Auction Dates.BURNABY, British Columbia--(BUSINESS WIRE)--Dec. 16, 1999-- Ableauctions.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABLCE) announced today that it has set the dates for running its Silent Auctions on eBay (Nasdaq:EBAY), the world's largest person-to-person trading community. The first two auctions, in a series of auctions that are expected to run weekly, are scheduled to start on December 16th, 1999 and on January 24, 2000. Ableauctions.com conducts two distinct types of auctions -- Silent Auctions and Live Auctions. Ableauctions.com's Silent Auctions, now slated to run on eBay's servers, are conducted in the same format as those currently running on eBay, and other auction sites. Items are posted on the site for 3 to 10 days and are sold to the highest bidder HIGHEST BIDDER, contracts. He who, at an auction, offers the greatest price for the property sold. 2. The highest bidder is entitled to have the article sold at his bid, provided there has been no unfairness on his part. at the end of that period. Ableauctions.com's Live Auctions are event-based auctions where in a very short period of time, typically one day, 1500 items are auctioned. The items are sold regardless of price to the highest bidder. The Live Auctions draw as many as 2000 people in person, and tens of thousands over the Internet. The auctions are broadcast live on the Internet and users, whether in person or over the Internet, can simultaneously bid on the same items. Ableauctions.com intends to bring this Live Auction element to high traffic Internet auction sites. The Company's roaming The ability to use a communications device such as a cellphone or PDA and be able to move from one cell or access point to another without losing the connection. auction crews will conduct event based "Live Auctions" in cities across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Europe, and simultaneously host them on established auction sites. Abdul Ladha, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ableauctions.com stated, "The Live Auction element generates a genuine auction atmosphere on the Internet. The Live Video broadcast enables users on their PC's to view other bidders, see the 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. and post bids head-to-head with others at the auction. Our 92 years of 'bricks-and-mortar' auction experience, coupled with the results from the two pilot Silent Auctions on eBay, sets the foundation for all auctions to follow." A simulation of the Live Video Broadcast is available on the Ableauctions.com site. Ableauctions.com is a high tech business-to-business and business-to-consumer auctioneer that conducts its auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of computers, electronics, office equipment, furniture and industrial equipment that it acquires through bankruptcies, insolvencies and defaults. The Company's Internet Auction web site can be located at www.ableauctions.com. BY ORDER OF THE BOARD OF DIRECTORS "Abdul Ladha" Abdul Ladha, President NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). has neither approved nor reviewed the information contained herein. For more information contact: Investor Relations Investor relations The process by which the corporation communicates with its investors. 877/684-8444 invest@ableauctions.com Or visit "Investor Relations" at: www.ableauctions.com |
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