September 10, 2003 Ableauctions.com, Inc. announced that following an exhaustive search, it has identified four prominent auction companies and three technology-based companies that it believes will add considerable breadth to its core competencies and enhance its business model. The Company has entered into negotiations with the candidates with the objective of either acquiring them or partnering with them, and will release details as negotiations progress. Ableauctions.com, Inc. to Establish Auction Consortium FIFE, WA--(MARKET WIRE)--Jul 9, 2003 -- Ableauctions.com Inc. (AMEX:AAC - News) (the "Company") announced today that Heritage Galleries & Auctioneers, the largest dealer and auctioneer of collectibles including rare coins, currency, comics, movie posters and illustration art in the world, and Kruse International Inc., the largest collector car auction company in the world, have joined its consortium, paving the way for the consortium to reach its target of representing over $1 billion in gross auction revenue. The consortium, consisting of some of the largest and most influential auction companies in the world, is established with the objective of implementing Ableauctions live auction technology (www.ableauctions.com/technology), and solidifying the Company's strategic alliance with eBay Live Auctions.
The Company intends on sharing its massive server array, its high capacity Internet feeds, and its operational support structure to enable each of the consortium members to broadcast auctions economically and exclusively with Ableauctions and eBay. As the consortium garners a strong presence in the market place, the company believes it will have the position to leverage better sales and lower costs for its members. The Company derives its revenues from upfront setup fees per auction and a percentage of online sales
June 25, 2003 Ableauctions.com, Inc. announced that it is in the process of establishing a consortium consisting of some of the largest auction companies in the world with the objective of implementing its live auction technology and solidifying the Company's strategic alliance with eBay Live Auctions. The Company intends on sharing its massive server array, its high capacity Internet feeds, and its operational support structure to enable each of the consortium members to broadcast auctions economically and exclusively with Ableauctions and eBay. As the consortium garners a strong presence in the market place, the Company believes it will have the position to leverage better sales and lower costs for its members.
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