FIFE, Wash.--July 21, 2004--Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that, for the first time, groundbreaking auction-industry research documented that live auctions account for $203.2 billion a year in sales. It also noted that more than 50 percent of Americans have attended live auctions.

According to MORPACE International, last year the value of all goods and services sold at live auction in the U.S. was $203.2 billion. This represents a strong 4 percent jump over sales of $189.8 billion in 2002. More than 50 percent of adult American consumers have attended a live auction, and 24 percent did so in the last year.

Harris Interactive noted that 83 percent of Americans have attended an auction of some kind, and 63 percent did so in the last year. Live auctions resonate with consumers as a fun, family activity. Seventy five percent say auctions are fun, and 50 percent say having fun is the reason they attend live auctions. The top reasons Americans attend live auctions are the excitement of getting a good price (53 percent), they like to see what types of purchases are available (51 percent) and they get great purchase value (51 percent). Consumers who participate in live auctions typically take part in other auctions, such as online. Live-auction buyers spend almost twice as much as online buyers ($988 vs. $475). The Midwest has the greatest number of participants (34 percent) and purchasers (58 percent) in the U.S.

The study results were announced today at the NAA's 55th International Auctioneers Conference and Show in Madison, Wis. "The exhaustive report from Harris Interactive and MORPACE International is of great benefit to our 7,000 worldwide members," said NAA CEO Robert A. Shively, CAE. "It's gratifying to know that our gross sales topped $200 billion last year, that we're a growing, thriving industry and that the public has such high enjoyment and regard for our services."

The full results of the study are available online at www.auctioneers.org. News courtesy of National Auctioneers Association.

About National Auctioneers Association

With more than 7,000 members from throughout the world, the National Auctioneers Association is the largest organization of its kind dedicated to promoting the auction method of marketing and enhancing the professionalism of its members. Member benefits range from federal legislative representation to comprehensive continuing education programs, including coursework to earn the following professional auctioneer designations: Certified Auctioneers Institute (CAI), Accredited Auctioneer, Real Estate (AARE), Graduate, Personal Property Appraiser (GPPA) and Certified Estate Specialist (CES). The organization was founded in 1949 and is headquartered in Overland Park, Kan. For more information on the NAA and its programs, log on to www.auctioneers.org.

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.