FIFE, WASHINGTON - July 1, 2003 - Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today the results of its June 26, 2003 pilot auction using its Live Auction technology.

The commercial auction conducted June 26, 2003, consisting of 802 lots and using Ableauctions Live Auction technology, grossed approximately $150,000 in revenue, with approximately 500 bidders registering in person and 238 bidders registering on-line. A total of 1564 absentee bids were placed on the website prior to the auction starting and approximately 16% of the lots (representing 18% of the total revenue) sold on the Internet. A total of 85% of all lots sold had Internet bids on them.

The Total Internet Influence, calculated by adding the total dollar value of the items sold on the Internet plus the highest Internet bid on those items not sold on the Internet, as percentage of the total auction revenue, was an impressive 56%.

All figures are approximate and subject to adjustments in commissions, buyers premiums, unclaimed lots, currency conversions and various other factors.

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. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information contact Investor Relations at 858-775-7962 or investorrelations@ableauctions.com.

About iCollector.com

iCollector.com 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, direct to the saleroom 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.