FIFE, WASHINGTON - July 23, 2003 - Ableauctions.com Inc. (AMEX:AAC) (the Company") announced today that the series of business and industrial auctions scheduled over the course of the next two months will contribute positively to its third quarter results. The surge in industrial auction activity begins to shift the Company's focus towards to a balance between antique and collectible auctions and industrial ones.

Scheduled industrial auctions include a 21 Harley-Davidson Road King motorcycle auction, mining and industrial equipment auctions, a semiconductor manufacturing facility, and one of the largest collectible car auctions in the U.S..

The Company believes that its scalable model and technology can not only sustain the current high volume of auctions in what is a traditionally slow period, but that it can handle several times the number of auctions without incurring significant overhead. The Company is expected to release the results of its second quarter of operations on August 15, 2003 and is expected to launch an AMEX backed Investor Relations program shortly.

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.