Ableauctions Announces iCollector and Invaluable Relationship to Broadcast Auctions Through eBay's Live Auction Service

Business Wire, July 27, 2004

FIFE, Wash. -- Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that its wholly owned subsidiary iCollector.com Technologies Ltd. has partnered with Invaluable Ltd. to facilitate auctions for Invaluable's 2,000 clients utilizing eBay Live Auctions, a functionality offered by eBay that allows online bidders to bid on items available at traditional offline auctions.

Invaluable is one of the foremost providers of information services relating to fine art, antiques and collectables, receiving catalogues from some 2,000 bricks and mortar salerooms around the globe. It has been active in the auction market since 1989, alerting dealers and collectors to items coming up for sale at auction houses worldwide. Its clientele of 2,500 top collectors, dealers, museums and heritage bodies already subscribe to these information services which will now be enhanced by the opportunity to link with bidders through eBay.

Invaluable's Auction Search Service is one of the world's largest auction lot databases, containing over 60 million entries. The company processes over 10,000 catalogues annually. It possesses one of the most comprehensive electronic search tools available to help identify stolen property and has facilitated the recovery of over 4,000 objects worth more than $125 million in the last decade.

ICollector will provide a back-end platform to facilitate the broadcast of auctions through eBay Live Auctions. The introduction of live auctions on eBay paves the way for a broader range of services by Invaluable to its clients, increasing the exposure of salesroom inventories while generating an enhanced revenue stream for them. The integration of Invaluable client services and the core iCollector technology is expected to deliver noticeable results and a higher profile for each company.

About Invaluable

Founded in 1989, Invaluable was the first company dedicated to the provision of impartial electronic information on antiques, fine art and premium collectables to dealers, private buyers, museums and other institutions.

Today, invaluable.com represents more than 2,000 of the world's leading auction houses, more than any other online agency. Thousands of collectors use Invaluable.com daily to search the catalogues of client auction houses.

Invaluable is utilizing eBay Live Auctions through its relationship with iCollector. It is now able to empower its auction house partners with the tools and support to maximize their results by broadcasting their sales, as they happen, on eBay Live Auctions. The combination of this technological platform and mass-market exposure enables auctioneers to leverage sales, offer a more convenient service to existing customers and achieve outstanding realized prices.

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 investorrelations@ableauctions.com.

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.