Ableauctions to Conduct the Single Largest Server Auction in the Historyof the Company
SCOTTSDALE, Ariz., Nov 9, 2001 (BUSINESS WIRE) -- Ableauctions.com(TM), Inc. (AMEX:AAC) (the "Company"), announced today that, having completed 16 of the 23 live auctions scheduled to run on eBay's live auction technology, the Company has scheduled the single largest computer and server auction in the history of the company on eBay Live Auctions.
The giant two day computer auction, scheduled on Nov. 15, 2001 and Nov. 16, 2001, is to be run on eBay Live Auctions, a special area of eBay, The World's Online Marketplace(TM) (www.ebay.com; NASDAQ: EBAY) that allows individuals to place real-time online bids on items available at traditional live auctions.
The sale by Ableauctions includes over 300 servers, 300 networking devices plus hundreds of computers. One of the servers is the dazzling Sun Enterprise Ten Thousand, the most powerful server Sun Microsystems manufactures. The server is expected to fetch a fraction of its $1.5 million retail value.
The goods to be auctioned are the assets of one of the largest ISPs in the US. Details and instructions on placing bids using eBay Live Auctions to participate in the sale are available at www.ebayliveauctions.com. Bidders must first sign up for the event online as a registered eBay user, and comply with the seller's user verification requirements. Before placing bids using Live Auctions, users can browse catalogues for upcoming sales. Users place bids before and during a live event. Once received, these bids are sent to the saleroom during each traditional auction.
About Ableauctions and iCollector
Ableauctions is a high tech business-to-business and consumer auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of products including computers, electronics, office equipment, furniture and industrial equipment that are acquired through bankruptcies, insolvencies and defaults.
iCollector was founded in 1994 and provides an indexed catalogue of art, antiques and collectibles for over 300 auction houses, dealers and galleries in the United States, Europe and the United Kingdom and facilitates transactions by broadcasting live auctions over the Internet in conjunction with eBay Live Auctions. The company represents hundreds of the world's premier auction houses and some of the world's most reputable dealers and galleries. On a typical day over 25,000 art works, antiques and collectibles are available to be bid for and bought on iCollector's website.
This release and prior releases are available on the Company's Internet Auction web site located at www.ableauctions.com.
This press release contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Such forward-looking statements involve known and unknown risks, uncertainties 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 auction houses, our ability to implement our inventory procurement strategy, general economic conditions, our ability to license our software to other auction houses, and other factors that are detailed in our Annual Report on Form 10-KSB filed with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from the Company's expectations and estimates.
CONTACT: Ableauctions
Investor Relations
Randy White
Toll Free: 888/599-2253
Global Toll Free: 800/0434-3624
invest@ableauctions.com
www.Ableauctions.com
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