October 17, 2006
Ableauctions to Host the Canadian Coinoisseur October Torex(R) Auction

Ableauctions.com (AMEX:AAC - News) announced today that it will host the Canadian Coinoisseur Torex® Auction on October 27th and 28th, 2006 on eBay Live Auctions through its subsidiary iCollector.com. Highlights of the 1859 lot auction include a rare 1916C Sovereign in PCGS MS-63, formerly from the Mason and the Belzberg Collections. Among the paper money are a 1912 Dominion of Canada "Train Note" in AU-Uncirculated and some spectacular errors. Pre-Confederation Tokens include two Side Views and many Choice Uncirculated and Proof pieces, as well as a group of early-state Brockages. The Newfoundland and Canadian Decimal content ranges from bulk lots to finest known examples, and there are over 1,400 certified pieces, including two examples of the 1921 Five Cents Silver. The total catalogued value is well in excess of a million dollars.

Michael Walsh, President of the Canadian Coinoisseur says, "Since I began using iCollector, my work load has simplified. The online interface is great, and having a live person almost instantly on the telephone has made changes very quick and easy. I can now relax in the weeks leading up to my sale, knowing that my auction is receiving proper attention. My satisfaction with iCollector has led me to refer two of my colleagues to them."

After retiring as a Naval Officer in 1981, Michael Walsh, President of Canadian Coinoisseur, began dealing with private clients -- buying, selling and building collections. In April 1998, Michael began conducting public numismatic auctions, and since then he has conducted seventeen sales. In 1999, he was a pioneer in the use of simultaneous live and online auctions. He was appointed Official Auctioneer in 1999 and 2000 for the Canadian Association of Numismatic Dealers as well in 2000 and 2002 for the Canadian Numismatic Association. Since 2001, he has conducted nine sales as Official Auctioneer for Torex®, Canada's oldest and most important coin show. He is currently slated as the Official Torex® Auctioneer for October 2006, June 2007 and February and October 2008.

Michael is a Member and a Past President of the Canadian Association of Numismatic Dealers, and he is the First Vice President, the Webmaster and a Life Member of the Canadian Numismatic Association. He is also a Life Member of the Canadian Paper Money Society, the American Numismatic Association, the Ontario Numismatic Association and the Vancouver Numismatic Society, where he is First Vice President. He is a Member of the Auctioneers Association of Canada.

For more information about this auction visit http://www.icollector.com/catalog.aspx?sid=10716

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.