EXHIBIT 4.1


                             ABLEAUCTIONS.COM, INC.

                             1999 STOCK OPTION PLAN
                             STOCK OPTION AGREEMENT

     THIS  AGREEMENT  is entered  into as of the 14th day of October,  1999 (the
"Date of Grant")  between  ABLEAUCTIONS.COM,  INC., a Florida  corporation  (the
"Company"),  and barrett sleeman (the "Optionee"),  of P.O. Box 18111, 2225 West
41st Avenue, Vancouver, British Columbia, V6M 4L3, Canada.

     WHEREAS the  Company's  Board of Directors  (the  "Board") has approved and
adopted the 1999 Stock Option Plan (the "Plan"),  pursuant to which the Board is
authorized  to grant to employees  and other  selected  persons stock options to
purchase common stock without par value of the Company (the "Common Stock");

     WHEREAS the Plan provides for the granting of stock options that either (i)
are  intended  to qualify as  "Incentive  Stock  Options"  within the meaning of
Section 422 of the Internal  Revenue Code of 1986, as amended (the  "Code"),  or
(ii)  do  not  qualify  under  Section  422 of the  Code  ("Non-Qualified  Stock
Options");

     WHEREAS the Board has  authorized the grant to the Optionee of an option to
purchase a total of 50,000 shares of Common Stock (the  "Option"),  which Option
is intended to be (select one):

          ---   an Incentive Stock Option

           X    a Non-Qualified Stock Option
          ---

     NOW  THEREFORE  the Company  agrees to offer to the  Optionee the option to
purchase,  on the terms and conditions set forth herein and in the Plan,  50,000
shares of Common Stock. The Option will not be exercisable by the Optionee until
the Company has filed a Form S-8 with the United States  Securities and Exchange
Commission (the "Form S-8 Filing Date"). Capitalized terms not otherwise defined
herein will have the meanings ascribed to them in the Plan.

1. Exercise Price. The exercise price of the Option will be $3.20 per share.

2.  Limitation  on the Number of Shares.  If the Option  granted is an Incentive
Stock Option,  the number of shares that may be acquired on exercise  thereof is
subject to the limitations set forth in Section 5(a) of the Plan.


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3. Vesting Schedule.  The Option is exercisable in accordance with the following
vesting schedule:


     (a)  100% of the Option may be exercised after the Form S-8 Filing Date.

4.  Option  Not  Transferable.  The  Option  may not be  transferred,  assigned,
pledged,  or  hypothecated  in  any  manner  (whether  by  operation  of  law or
otherwise)  other than by will, by applicable laws of descent and  distribution,
or (except in the case of an  Incentive  Stock  Option)  pursuant to a qualified
domestic relations order, and will not be subject to execution,  attachment,  or
similar process;  provided however that if the Option represents a Non-Qualified
Stock Option,  the Option is transferable  without payment of  consideration  to
immediate   family  members  of  the  Optionee  or  to  trusts  or  partnerships
established  exclusively  for the  benefit of the  Optionee  and the  Optionee's
immediate family members. On any attempt to transfer,  pledge,  hypothecate,  or
otherwise  dispose of the Option or of any right or  privilege  conferred by the
Plan contrary to the provisions thereof, or on the sale, levy or attachment,  or
similar  process on the rights and privileges  conferred by the Plan, the Option
will terminate and become null and void.

5.  Investment  Intent.  By accepting the Option,  the Optionee  represents  and
agrees  that none of the shares of Common  Stock  purchased  on  exercise of the
Option will be distributed in violation of applicable federal and state laws and
regulations.  In addition, the Company may require, as a condition of exercising
the  Option,  that the  Optionee  sign an  undertaking,  in the form  reasonably
specified  by the  Company,  that  the  shares  are  being  purchased  only  for
investment  and without any  then-present  intention to sell or  distribute  the
shares.

6. Termination of Employment and Options. A vested Option will terminate, to the
extent not previously exercised, on the occurrence of the first of the following
events:

     (a)  Expiration:  October 14, 2004;  except that the expiration date of any
          Incentive  Stock Option granted to a  greater-than-ten-percent  (>10%)
          shareholder  of the Company will not be later than five years from the
          Date of Grant;

     (b)  Termination  for  Cause:  The  date of an  Optionee's  termination  of
          employment or contractual relationship with the Company or any Related
          Corporation  for cause (as  determined  in the sole  discretion of the
          Plan Administrator);

     (c)  Termination  Due to Death or  Disability:  The  expiration of one year
          from  the  date  of the  death  of the  Optionee  or  cessation  of an
          Optionee's  employment  or  contractual   relationship  by  reason  of
          Disability (as defined in Section 5(g) of the Plan).  If an Optionee's
          employment or  contractual  relationship  is terminated by death,  any
          Option held by the Optionee will be exercisable  only by the person or
          persons to whom the  Optionee's  rights  under the Option will pass by
          the Optionee's will or by the laws of descent and distribution;



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     (d)  Termination Due to Cessation of Service as a Director:  The expiration
          of three  months  from  the date an  Optionee,  if a  director  of the
          Company, ceases to serve as a director of the Company; or

     (e)  Termination for Any Other Reason:  The expiration of three months from
          the date of an Optionee's  termination  of  employment or  contractual
          relationship  with the  Company  or any  Related  Corporation  for any
          reason whatsoever other than cause, death or Disability (as defined in
          Section 5(g) of the Plan).

     Each unvested Option granted pursuant hereto will terminate  immediately on
termination of the Optionee's  employment or contractual  relationship  with the
Company for any reason whatsoever,  including death or Disability unless vesting
is accelerated in accordance with Section 5(f) of the Plan.

7. Stock. In the case of any stock split, stock dividend,  or similar alteration
of the shares of Common Stock  covered by this  Agreement,  the number of shares
and exercise price will be proportionately adjusted as set forth in Section 5(m)
of the Plan.

8. Exercise of Option. The vested portion of the Option will be exercisable,  in
full or in part, at any time after vesting, until termination;  provided however
that any Optionee who is subject to the reporting  and  liability  provisions of
Section 16 of the  Securities  Exchange  Act of 1934 with  respect to the Common
Stock will be precluded from selling or  transferring  any Common Stock or other
security  underlying an Option during the six months  immediately  following the
grant of that  Option.  If less than all of the  shares  included  in the vested
portion of the Option are  purchased,  the  remainder  may be  purchased  at any
subsequent  time before the  expiration  of the Option  term.  No portion of the
Option for less than 100 shares (as  adjusted  pursuant  to Section  5(m) of the
Plan) may be  exercised;  provided  that if the vested  portion of the Option is
less than 100, it may be  exercised  with  respect to all shares for which it is
vested.  Only whole  shares may be issued  pursuant  to the  Option,  and to the
extent that the Option covers less than one share, it is unexercisable.

     Each  exercise  of the Option  must be by means of  delivery of a notice of
election to exercise  (which may be in the form attached hereto as Exhibit A) to
the Company's President at its principal executive office, specifying the number
of shares of Common Stock to be purchased and  accompanied by payment in cash by
certified or cashier's  cheque in the amount of the full exercise  price for the
Common  Stock to be  purchased.  In addition to payment in cash by  certified or
cashier's  cheque, an Optionee or transferee of an Option may pay for all or any
portion of the  aggregate  exercise  price by complying  with one or more of the
following alternatives:

     (a)  by delivering to the Company shares of Common Stock previously held by
          that  person or by the  Company  withholding  shares  of Common  Stock
          otherwise deliverable pursuant to exercise of the Option, which shares
          of Common Stock  received or withheld will have a fair market value at
          the date of exercise (as


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          determined by the Plan Administrator)  equal to the aggregate purchase
          price to be paid by the Optionee on exercise;

     (b)  by  delivering  a  properly   signed  exercise  notice  together  with
          irrevocable  instructions  to a broker  promptly  to sell or  margin a
          sufficient  portion of the shares and deliver  directly to the Company
          the amount of sale or margin loan proceeds to pay the exercise  price;
          or

     (c)  by complying  with any other  payment  mechanism  approved by the Plan
          Administrator at the time of exercise.

9.  Holding  Period  for  Incentive  Stock  Options.  In order to obtain the tax
treatment  provided for Incentive  Stock Options by Section 422 of the Code, the
shares of Common  Stock  received  on  exercise of any  Incentive  Stock  Option
pursuant to this  Agreement must be sold, if at all, after a date which is later
of two years from the date of this  Agreement or one year from the date on which
the Option is  exercised.  The Optionee  agrees to report sales of shares before
the above  determined date to the Company within one business day after the sale
is  concluded.  The  Optionee  also  agrees to pay to the  Company,  within five
business days after the sale is concluded,  the amount necessary for the Company
to  satisfy  its  withholding  requirement  required  by the Code in the  manner
specified in Section 5(l)(2) of the Plan.  Nothing in this Section 9 is intended
as a  representation  that Common Stock may be sold without  registration  under
state  and  federal  securities  laws  or  an  exemption   therefrom,   or  that
registration or exemption will be available at any specified time.

10.  Subject to 1999 Stock Option  Plan.  The terms of the Option are subject to
the  provisions  of the Plan,  as it may from time to time be  amended,  and any
inconsistencies  between this  Agreement and the Plan, as it may be from time to
time  amended,  will be governed by the  provisions of the Plan, a copy of which
has been  delivered to the Optionee and which is available for inspection at the
Company's principal offices.

11.  Professional  Advice.  The  acceptance of the Option and the sale of Common
Stock issued pursuant to the exercise of the Option may have consequences  under
federal  and state tax and  securities  laws  which  may vary  depending  on the
individual circumstances of the Optionee. Accordingly, the Optionee acknowledges
that he or she has been  advised to consult  his or her  personal  legal and tax
advisor in connection  with this  Agreement and his or her dealings with respect
to the  Option  for the  Common  Stock.  Without  limiting  other  matters to be
considered, the Optionee should consider whether, on exercise of the Option, the
Optionee must file an election  with the Internal  Revenue  Service  pursuant to
Section 83(b) of the Code.

12. No  Employment  Relationship.  Whether or not any  Options are to be granted
under  the  Plan  will  be  exclusively   within  the  discretion  of  the  Plan
Administrator, and nothing contained in the Plan will be construed as giving any
person any right to  participate  under the Plan. The grant of an Option will in
no way constitute any form of agreement or understanding  binding on the Company
or any  Related  Company,  express or  implied,  that the Company or any Related
Company  will employ or contract  with an Optionee  for any length of time,  nor
will it


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interfere  in any way  with  the  Company's  or,  where  applicable,  a  Related
Company's right to terminate the Optionee's  employment at any time, which right
is hereby reserved.

13. Entire Agreement.  This Agreement is the only agreement between the Optionee
and the Company  with  respect to the Option,  and this  Agreement  and the Plan
supersede  all  prior  and  contemporaneous  oral  and  written  statements  and
representations  and contain  the entire  agreement  between  the  parties  with
respect to the Option.

14. Notices. Any notice required or permitted to be made or given hereunder will
be mailed or  delivered  personally  to the  addresses  set forth  below,  or as
changed from time to time by written notice to the other:

         The Company:               ABLEAUCTIONS.COM, INC.
                                    3112 Boundary Road
                                    Burnaby, British Columbia  V5M 4A2
                                    Canada
                                    Attention:  Abdul Ladha

         The Optionee:              Barrett Sleeman
                                    P.O. Box 18111
                                    2225 West 41st Avenue
                                    Vancouver, British Columbia  V6M 4L3
                                    Canada


ABLEAUCTIONS.COM, INC.
Per:

/s/ Abdul Ladha
--------------------------------
Abdul Ladha, President

/s/ Barrett Sleeman
--------------------------------
Signature of Optionee

Barrett Sleeman
--------------------------------
Print Name

THERE  MAY  NOT  BE  PRESENTLY   AVAILABLE   EXEMPTIONS  FROM  THE  REGISTRATION
REQUIREMENTS OF APPLICABLE FEDERAL AND STATE SECURITIES LAWS FOR THE ISSUANCE OF
SHARES OF COMMON  STOCK ON EXERCISE  OF THIS  OPTION.  ACCORDINGLY,  THIS OPTION
CANNOT BE  EXERCISED  UNLESS THE  OPTION  AND THE  SHARES OF COMMON  STOCK TO BE
ISSUED ON


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EXERCISE  ARE  REGISTERED  OR AN EXEMPTION  FROM  REGISTRATION  REQUIREMENTS  IS
AVAILABLE.

THE SHARES OF COMMON STOCK  ISSUED  PURSUANT TO THE EXERCISE OF THIS OPTION WILL
BE  "RESTRICTED  SECURITIES"  AS DEFINED IN RULE 144 UNDER THE SECURITIES ACT OF
1933 AND WILL BEAR A LEGEND  RESTRICTING RESALE UNLESS THEY ARE REGISTERED UNDER
STATE  AND  FEDERAL  SECURITIES  LAWS  OR  AN  EXEMPTION  FROM  REGISTRATION  IS
AVAILABLE.  THE COMPANY IS NOT OBLIGED TO REGISTER THE SHARES OF COMMON STOCK OR
TO MAKE AVAILABLE ANY EXEMPTION FROM REGISTRATION.


<PAGE>

                                    EXHIBIT A

                         Notice of Election to Exercise

     This Notice of Election to Exercise will constitute  proper notice pursuant
to Section 5(h) of the 1999 Stock Option Plan (the "Plan") of  ABLEAUCTIONS.COM,
INC. (the "Company") and Section 8 of the Stock Option Agreement dated as of the
14th  day of  October,  1999  between  the  Company  and  the  undersigned  (the
"Agreement").

     The  undersigned  elects to  exercise  the  Optionee's  option to  purchase
------------  shares of the common  stock of the Company at a price of $3.20 per
share, for aggregate consideration of $------------, on the terms and conditions
set forth in the Agreement and the Plan.  The  aggregate  consideration,  in the
form specified in Section 8 of the Agreement, accompanies this notice.

     The  undersigned  has signed this Notice this ----- day of  --------------,
-----.




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Signature

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Name (typed or printed)