August 13, 2007
Ableauctions Announces Second Quarter 2007 Results

Ableauctions.com Inc. (AMEX:AAC - News; the "Company") announced today the results of operations for the second quarter ended June 30, 2007.

FINANCIAL HIGHLIGHTS - 3 MONTHS ENDED JUNE 30, 2007

Revenues. During the three months ended June 30, 2007, the Company reported revenues of $1,833,973 compared to revenues of $1,802,774 during the same period in 2006.

Revenues from the Company's liquidation services accounted for $1,469,991 (or 80% of total revenue) compared to revenue of $1,459,870 (or 81% of total revenue) during the same period in 2006. Revenues earned in the future from liquidation services will fluctuate widely based upon seasonality, the inventory available, the timing of orders, and the Company's ability to verify and ship orders on a timely basis. The Company expects revenues from its liquidation sector will continue to represent the majority of overall revenues.

Revenues from the Company's live auction operations group which includes iCollector and NAALive, remained substantially unchanged from the same period in 2006. Revenues from live auction operations totaled $254,182 during the three months ended June 30, 2007, compared to revenues of $268,911 during the same period in 2006. The number of auction sessions facilitated in the second quarter of 2007 increased by 28% to 454 compared to 356 auction sessions for the same period in 2006.

Gross Profit. The Company reported an increase in gross profit percentage for the three months ended June 30, 2007. Gross profit was $870,236 (or 47% of revenues) for the three-months ended June 30, 2007 as compared to $643,333 (or 36% of revenues) for the same period in 2006. The increase in gross profit as a percentage of revenue is a result of improved pricing and product offerings of the Company's liquidation and auction broadcasting services group. Future gross profit margins may vary considerably from quarter-to-quarter depending on the performance of various divisions.

Operating Expenses. Operating Expenses remained substantially unchanged. During the three-months ended June 30, 2007, operating expenses were $777,354 or 42% of revenue compared to $721,966 or 40% of revenue for the three months ended June 30, 2006.

Net Income. The Company reported net income for the three months ended June 30, 2007 of $189,573, or $0.003 per share, as compared to $39,770, or $0.001 per share, for the three months ended June 30, 2006.

FINANCIAL HIGHLIGHTS - 6 MONTHS ENDED JUNE 30, 2007

Revenues. During the six months ended June 30, 2007, the Company reported revenues of $2,848,884 compared to revenues of $3,841,926 during the same period in 2006, a decrease of $993,042 or 26%.

The decrease in revenues is primarily attributable to a decrease in revenues earned from the Company's liquidation services in the first quarter of 2007. Revenues from our liquidation services totaled $2,121,794 (or 74% of total revenue) for the six months ended June 30, 2007, compared to revenues of $3,167,761 (or 82% of total revenue) during the same period in 2006. Revenues earned in the future from liquidation services will fluctuate widely based upon seasonality, the inventory available, the timing of orders, and the Company's ability to verify and ship orders on a timely basis. The Company expects revenues from its liquidation sector will continue to represent the majority of overall revenues.

Revenues from the Company's live auction operations group which includes iCollector and NAALive, remained substantially unchanged from the same period in 2006. Revenues from live auction operations totaled $474,710 during the six months ended June 30, 2007, compared to revenues of $476,528 during the same period in 2006. The number of auction sessions facilitated in the first two quarters of 2007 increased by 50% to 853 compared to 570 auction sessions for the same period in 2006.

Gross Profit. Gross profit was $1,345,056 (or 47% of revenues) for the six-months ended June 30, 2007 as compared to $1,352,719 (or 35% of revenues) for the six months ended June 30, 2006. The increase in gross profit as a percentage of revenue is a result of improved pricing and product offerings of the Company's liquidation and auction broadcasting services group. Future gross profit margins may vary considerably from quarter-to-quarter depending on the performance of various divisions.

Operating Expenses. During the six months ended June 30, 2007, operating expenses were $1,311,868 or approximately 46% of revenue compared to $1,411,035 or approximately 37% of revenue for the six months ended June 30, 2006. The increases in operating expenses as a percentage of revenue is attributable to a decrease in revenue earned from our liquidation services in the first quarter of 2007.

Net Income. The Company reported net income for the six-months ended June 30, 2007 of $209,571, or $0.003 per share, as compared $180,080, or $0.003 per share, for same period in 2006.

Shareholders Equity. The Company reported shareholders' equity, defined as the carrying amount of the Company's assets minus its liabilities, totaling $14,679,351 at June 30, 2007 compared to $12,890,232 at December 31, 2006.

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.