| April 26, 2006 Ableauctions - JM Wood Auction on NAALive.com Sells $680,000 Online, Setting Record for Internet Sales at Its South Carolina Location WEST COLUMBIA, S.C.--April 26, 2006--Ableauctions.com (AMEX:AAC - News) announced today that JM Wood's one-day auction held April 20, 2006, sold $680,000 online with Internet bidding influencing over $2,000,000 in revenue. The auction attracted more than 1,000 registered bidders from 33 states and 10 countries to bid on the lineup of equipment. Approximately 75% of the machines were sold to buyers outside the state of South Carolina. Highlights of the auction include the following sales:
The auction set a record for JM Wood for the highest online sales at their South Carolina location. John Gray, Vice President of JM Wood Auctions Inc., said, "NAALive's services have become a vital asset to the J.M. Wood team. Our company has seen phenomenal growth in the last 3 years, and NAALive has played an important part in that. The equipment brought record prices, and exceeded every expectation that we had. The overwhelming success of this auction should send a very positive signal to the used equipment market. Equipment owners are utilizing our services more than ever to get global exposure to economies around the world. We have been very pleased with the service we get from NAALive, the Internet sales have continued to grow every auction for the last 3 years, and we expect this trend to continue." About NAALive.com NAALive is an Internet-based broadcast service for NAA members who conduct real auctions. Utilizing NAALive's real-time software, auction houses broadcast over the Internet and online bidders participate in live auctions as if they were physically present at the auction. NAALive also enables bidders to review auction catalogs and place absentee bids prior to an event. NAALive is rapidly becoming the standard for live Internet auctions and the premier Web site for consumer access to the auction industry. This means thousands more potential bidders for your auctions. For more information visit www.naalive.com 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. |