Ableauctions.com announced today that it has been notified by eBay that eBay intends to wind down the operations of its eBay Live Auctions platform effective December 31, 2008.

This event may have a material adverse affect on the operations of Ableauctions as the Company may have to suspend the live auction segment of its business. The Company’s subsidiary, iCollector.com, currently derives approximately $700,000 in annual revenue (or 14% of the Company’s total revenues) from auctions broadcast on the eBay Live Auctions platform.

eBay’s decision to wind down eBay Live Auctions may provide the Company with an opportunity to expand its NAALive operations, although there is no certainty that this will occur. The Company currently offers an alternative to auctioneers to the eBay Live Auctions platform with its proprietary live auction bidding software through NAALive.com.

Posted: 04|15|08 at 9:02 pm. Filed under: Auction News.