<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE>Ableauctions.com Inc. May 05, 2008</TITLE>
<META content=EDGAR-Online name=author>
<META content=05/05/2008 name=date>
</HEAD>
<BODY
style="FONT-SIZE: 10pt; COLOR: #000000; LINE-HEIGHT: 12pt; FONT-FAMILY: Times New Roman">
<DIV style="WIDTH: 624px">
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>UNITED STATES</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>Washington, DC &nbsp;20549</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center><B>FORM
8-K</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>CURRENT REPORT</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>Pursuant
to Section 13 or 15 (d) of the Securities Exchange Act of 1934</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>Date of
Report (Date of earliest event reported): &nbsp;May 5, 2008 (May 2, 2008)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>ABLEAUCTIONS.COM, INC.</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>(Exact
name of Registrant as specified in charter)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: -18px; LINE-HEIGHT: 14pt">Florida</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: -18px; TEXT-INDENT: 240px; LINE-HEIGHT: 14pt">000-28179</P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 432px; LINE-HEIGHT: 14pt">59-3404233</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 9pt; MARGIN-BOTTOM: -14px; LINE-HEIGHT: 11pt">(State
or other jurisdiction</P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 9pt; MARGIN-BOTTOM: -14px; TEXT-INDENT: 192px; LINE-HEIGHT: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Commission
File Number)</P>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 432px; LINE-HEIGHT: 11pt">(IRS
Employer </P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 9pt; MARGIN-BOTTOM: -14px; LINE-HEIGHT: 11pt">of
incorporation)</P>
<P
style="FONT-SIZE: 9pt; MARGIN: 0px; TEXT-INDENT: 432px; LINE-HEIGHT: 11pt">Identification
Number)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center><B>1963
Lougheed Highway</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>Coquitlam, British Columbia Canada</B></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt" align=center>(Address
of principal executive offices)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">Registrant&#146;s
telephone number, including area code: &nbsp;604-521-3369</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px" align=justify>Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the
Registrant under any of the following provisions (see General Instruction A.2
below).</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">[ &nbsp;] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">[ &nbsp;] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR240.14a-12)</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">[ &nbsp;] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px">[ &nbsp;] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13(e)-4(c))</P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="PAGE-BREAK-BEFORE: always; MARGIN: 0px"><BR></P>
<P
style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: -18px; LINE-HEIGHT: 14pt"><B>Item
1.01</B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 96px; LINE-HEIGHT: 14pt"><B>Entry
into a Material Definitive Agreement</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 96px; LINE-HEIGHT: 14pt">On
April 2, 2008, a former employee and agent, Mr. Steve Gold and Gold Network,
Inc. (collectively, the &#147;Plaintiffs&#148;), filed a legal action against us for
breach of contract relating to commissions they alleged were not paid to them.
&nbsp;On May 2, 2008 we reached an agreement with the Plaintiffs regarding the
dispute and paid the sum of $65,000 to the Plaintiffs in exchange for a release
of their claims.</P>
<P style="MARGIN: 0px"><BR></P><A name=node2></A>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"
align=center><B>SIGNATURES</B></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0px; TEXT-INDENT: 48px; LINE-HEIGHT: 14pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"><B>ABLEAUCTIONS.COM,
INC.</B></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt"><U>/s/ Abdul
Ladha</U></P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">Abdul Ladha, Chief
Executive Officer </P>
<P style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt">Dated: &nbsp;May 5,
2008</P>
<P style="MARGIN: 0px"><BR><BR></P>
<P style="MARGIN: 0px"><BR></P>
<P
style="MARGIN: 0px"><BR></P></DIV></BODY>
<!-- EDGAR Validation Code: D013C42F -->
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "form8k05may08.htm", "description": "FORM 8-K CURRENT REPORT MAY 05, 2008", "secsgml_size_bytes": 5991}]
{"company-data": {"conformed-name": "ABLEAUCTIONS COM INC", "cik": "0001099290", "assigned-sic": "7389", "irs-number": "593404233", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15931", "film-number": "08802343"}, "business-address": {"street1": "1963 LOUGHEED HIGHWAY", "city": "COQUITLAM", "state": "A1", "zip": "V3K 3T8", "phone": "604-521-3369"}, "mail-address": {"street1": "1963 LOUGHEED HIGHWAY", "city": "COQUITLAM", "state": "A1", "zip": "V3K 3T8"}}
Ableauctions.com Inc. May 05, 2008
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549
FORM
8-K
CURRENT REPORT
Pursuant
to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):  May 5, 2008 (May 2, 2008)
ABLEAUCTIONS.COM, INC.
(Exact
name of Registrant as specified in charter)
Florida
000-28179
59-3404233
(State
or other jurisdiction
(Commission
File Number)
(IRS
Employer
of
incorporation)
Identification
Number)
1963
Lougheed Highway
Coquitlam, British Columbia Canada
(Address
of principal executive offices)
Registrant's
telephone number, including area code:  604-521-3369
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the
Registrant under any of the following provisions (see General Instruction A.2
below).
[  ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR240.14a-12)
[  ] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
[  ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13(e)-4(c))
Item
1.01
Entry
into a Material Definitive Agreement
On
April 2, 2008, a former employee and agent, Mr. Steve Gold and Gold Network,
Inc. (collectively, the "Plaintiffs"), filed a legal action against us for
breach of contract relating to commissions they alleged were not paid to them.
 On May 2, 2008 we reached an agreement with the Plaintiffs regarding the
dispute and paid the sum of $65,000 to the Plaintiffs in exchange for a release
of their claims.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
ABLEAUCTIONS.COM,
INC.
/s/ Abdul
Ladha
Abdul Ladha, Chief
Executive Officer
Dated:  May 5,
2008