SCOTTSDALE, ARIZONA - May 8th, 2001- Ableauctions.com^TM, Inc. (AMEX:AAC) (the "Company"), announced today that 40% of the inventory lotted in its Belleek Collectible auction sold to bidders over the Internet.

The auction, held in Scottsdale Arizona on Saturday April 28th, 2001, attracted 5,395 bidders on-line and less than 10% in person. This is a dramatic shift from the Company's traditional auctions where the majority of users typically appear in person. It is also a strong statement endorsing the acceptance of the Company's proprietary technology that broadcasts the auctions live over the Internet.

About Ableauctions.com

Ableauctions.com is a high tech business-to-business and consumer auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of products including computers, electronics, office equipment, furniture and industrial equipment that are acquired through bankruptcies, insolvencies and defaults. This release and prior releases are available on the Company's Internet Auction web site located at www.ableauctions.com.