FIFE, WASHINGTON - August 11, 2004 - Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that Artfact Inc., a premier antiques and fine art pricing and research service for auction houses, professional appraisers, high volume antiques and art dealers, museum curators, libraries, insurance professionals, and collectors will utilize its wholly owned subsidiary iCollector.com Technologies Ltd. to assist it in it's rapid expansion of eBay Live Auctions services.

The introduction of live auction broadcasting services to Artfact clients adds a new tier to the already broad range of services Artfact provides its auction houses in obtaining valuable exposure. It also provides an easy introduction to the platform of eBay live auctions for auction houses previously only holding sales on their floor.

Josh Eldred, Artfact Vice President of Marketing, said "Artfact already provides database, online catalog publishing, and Internet marketing services to more than 100 of the world's top antiques and art auction houses. By adding eBay Live Auctions to Artfact's suite of existing services, our clients don't need multiple Internet vendors to research starting and estimated prices for their online auctions. We are very pleased that iCollector and eBay Live Auctions have been so supportive in our launch of the Artfact Live Auctions service on eBay."

Founded in 1986, Artfact maintains a database that is one of the most comprehensive sources of information for the auction world. Available by subscription to both institutional and private users, it is the only service licensed by traditional auction houses to aggregate and publish their unabridged catalogs including photographs, expert research, and the actual selling price of each item. Artfact's search capabilities provide instant and intuitive access to millions of items sold at more than 25,000 auctions worldwide.

The extensive list of Artfact clients includes names such as Sotheby's, Christie's and Butterfield's as well as many internationally acclaimed institutions such as The Metropolitan Museum of Art and the Smithsonian Institute. Artfact is the only antique and art database service endorsed by all three U.S. professional personal property appraisal associations, the American Association of Appraisers, the International Association of Appraisers, and the American Society of Appraisers.

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.