Message #37 From:
Stock News Bot Date: September 6, 2006 07:30:00 AM
AAC News Ableauctions to Host Superior Galleries' ''Pre-Long Beach Elite Coin Auction''
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Sept. 6, 2006--Ableauctions.com (AMEX:AAC) announced today that it will host Superior Galleries' "Pre-Long Beach Elite Coin Auction" on September 10th through September 12th, 2006 on eBay Live Auctions through its subsidiary iCollector.com. This event will host over 2500 hundred items including a group of 5 Draped Bust Half Cents, 1804-1808 with a grading of G4 to F15, a lot of Five Liberty Head Three Cent Nickels, an 1863 Liberty Seated Half Dime, 1857 Flying Eagle Cent, 1859 Indian Head Cent, 1922 - D Lincoln Cent, 1933 Lincoln Cent. Also highlighting the auction is an 1863 Liberty Seated $1, an 1868 Liberty Seated Dollar, an 1876 Trade Dollar, an 1879 - CC Morgan Dollar, 1879 - CC Morgan Dollars, 1898 China, Fengtien Dollars and an 1883 $2.50 Liberty.
Superior Galleries Vice President of Operations, Louis Palafoutas, said, "iCollector has become a valuable asset to our auctions by increasing our bidder base, minimizing complications and providing us with seamless events. We look forward to our continued partnership with iCollector."
Superior Stamp & Coin was founded by Isadore Goldberg in 1930. In 2001, Superior was acquired by Silvano DiGenova, a self-made millionaire in rare coins by the age of 21. He is a recognized leader in the industry, having been instrumental in the creation of the Professional Coin Grading Service, the organization that first established the industry standards for coin grading. Superior Galleries is owned by the Stanford Financial Group, which holds 57% of their stock. Stanford Financial Group made an initial investment in Superior Galleries in 2001 and bought a controlling interest in 2003. Stanford Financial Group also provides the company with a line of credit that gives them the ability to offer flexible terms to their customers and acquire virtually any numismatic rarity that may become available.
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.
Ableauctions.com Inc. (AMEX:AAC) is a high-tech liquidator and on-line auction facilitator that operates the domains iCollector.com, Naalive.com and Unlimited Closeouts.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, 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.
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." 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, loss of management personnel, an inability to obtain financing as and when we need it, competition from other on-line auction businesses, 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. E.&O.E.
