| February 23, 2006 Ableauctions to Host 19th Annual Best of the West Auction for Cowboy and Indian Collectables on eBay GREAT FALLS, MT--Feb 23, 2006 -- Ableauctions.com (AMEX:AAC - News), through their subsidiary iCollector.com, announced today it will host the 19th annual fine art Cowboy and Indian collectables auction for Best of the West Auctions March 16th, 17th and 18th, 2006. This event will showcase pieces by Charles M. Russell, who specialized in the American West, and Ace Powell, painter of the "Montana Warrior." The auction is also offering 600 lots of fine art featuring collectables and antiques such as bridles, pottery, beadwork, saddles, spurs, textiles and baskets. Best Of The West Auctions conducts several Western Art & Collectibles Auctions and Art Shows per year in Colorado and Great Falls, MT. Moreover, through the acquisition of the Manitou Gallery Auction in Great Falls, Montana in 2003, they are able to showcase many traditional Western Artists that show the beauty of the Western States, the cowboy lifestyle and the Native American culture. Best Of The West Auctions also specializes in auction and appraisal of exclusive estates, as auctioneer & broker of fine Western Art, and offers auction-consulting services where personal property expertise or contract auction services are needed. Best of the West Auctions were the first ones in Colorado to conduct on-line simulcast auctions and continue to conduct all important auctions on-line exclusively employing the services of Icollector.com. In addition to Best Of The West's strong national position in the area of Western Art & Collectibles, they have made a commitment to foster a new national focus on the Broadmoor Art Academy and the important contribution this group of artists has made to the Colorado art heritage. This commitment has garnered them national stature as sellers of this family of art. Presently they are under contract to sell prominent Broadmoor Art Academy artists, Charles Bunnell and the Verna Jean Versa estates. About iCollector.com iCollector.com is the pre-eminent supplier of live online auction technology and services to some of the world's most prestigious galleries and industrial auction houses and operates one of the largest eBay Live Auction sales and support centers in the world. It is the only auction technology company to be endorsed by the National Auctioneers Association (NAA) and has partnered with eBay Live Auctions in streamlining the process of broadcasting auctions real-time on the Internet. iCollector's technology enables auction houses to open their establishments to the world by allowing online bidders to participate in real-time on the auction floor. Visit www.icollector.com or (www.icollector.com/ourtechnology.aspx) About Ableauctions.com Ableauctions.com Inc. (AMEX:AAC) is a high-tech liquidator and on-line auction facilitator that operates the domains iCollector.com, Naalive.com, Unlimited Closeouts.com and iTrustee.com. As an on-line auction facilitator, the Company, with the experience of over 3,000 auctions, has developed state-of-the-art technology to broadcast auctions over the Internet (www.ableauctions.com/technology) and currently provides the technology and related services to auction houses, enabling them to broadcast auctions over the Internet. The Company broadcasts business and industrial auctions over the Internet for auctioneers and members of the National Auctioneers Association (NAA) and art, antique and collectible auctions for numerous galleries and auction houses around the world through eBay Live Auctions. As a liquidator, the Company, through Unlimited Closeouts and iTrustee, purchases overstocks, order cancellations and discontinued products from major manufacturers and importers, then sells the merchandise to major retail chains, other resellers or the public. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations at investorrelations@ableauctions.com This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and the Company's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the performance of our staff, management, financing, competition, on-line auction business, our ability to implement or manage our expansion strategy, general economic conditions, our ability to license our software to other auction houses, our ability to acquire profitable companies and integrate them into our business successfully and other factors that are detailed in our Annual Report on Form 10-KSB and on documents we file from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company's expectations and estimates. The Company does not realize nor book the full revenue of auctions that it facilitates in its financials, only the net auction fees, that can vary from time-to-time, that it realizes. |