EXHIBIT 10.25


                                    GUARANTEE

THIS DEED OF GUARANTEE is made on June 21, 2001 by and between ABLEAUCTIONS.COM,
INC., a Florida  corporation  (the "the  Guarantor") and NORTHERN  IRELAND LOCAL
GOVERNMENT OFFICERS'  SUPERANNUATION  COMMITTEE of Templeton House, 411 Holywood
Road, Belfast BT4 2LP o (the "the Lender").

                              W I T N E S S E T H:
                              --------------------

     WHEREAS,  the  Lender  has lent  the  principal  amount  of  US$460,000  to
iCOLLECTOR PLC (Company No:  3201371) whose  registered  office is at 3rd Floor,
United House, 9 Pembridge Road,  London W11 3JY (the "Borrower") to the order of
the  Lender,  under the terms of the Loan  Agreement  of equal  date (the  "Loan
Agreement");

     WHEREAS,  the Lender,  Borrower and the Guarantor are parties to a Heads of
Terms dated June ___,  2001 (the  "Heads of Terms"),  under which (i) the Lender
entered into the Loan Agreement and loaned the Borrower US$460,000 (the "Loan"),
(ii) the Lender has agreed to underwrite a pre-emptive  offer by the Borrower to
its  shareholders  of  convertible  loan  notes  having  an  aggregate  value of
US$3,828,000, (iii) the Guarantor has agreed to make an offer to acquire 100% of
the shares of the Borrower (the  "Offer"),  and (iv) the Guarantor has agreed to
provide this Guarantee to secure repayment of the Loan by the Borrower.

     WHEREAS,  pursuant to the Heads of Terms, the Guarantor has agreed to issue
to the Lender five  hundred  thousand  (500,000)  shares of common  stock of the
Guarantor  (the  "Guarantee  Shares") as full and complete  satisfaction  of the
Guarantor's  obligations  under the terms of this Guarantee,  and the Lender has
agreed to such terms;

     WHEREAS,  the Guarantor has authorized the issuance of the Guarantee Shares
to the Lender under the terms and conditions of this Guarantee;

     WHEREAS, it was a condition precedent to the Lender making the Loan and the
parties entering into the Heads of Terms that the Guarantor  execute and deliver
to the Lender a guaranty  guaranteeing  the  indebtedness and all liabilities of
the Borrower under the Loan Agreement;

     WHEREAS,  the Loan shall be converted into shares of Borrower at the higher
of

     (a)  par


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     (b)  or (b) the average market price of the Borrower's  ordinary shares for
          the 20 business  days prior to the date that the Lender  serves notice
          electing to convert all or part of the Loan

immediately  prior to and conditional  upon the Offer becoming  unconditional in
all respects; and

     WHEREAS,  the Guarantor will derive substantial direct and indirect benefit
from the Lender entering into the Loan Agreement and the Heads of Terms.

     NOW, THEREFORE,  in consideration of the premises and the agreements herein
and in order to induce the Lender to make the Loan and the parties to enter into
the Heads of Terms, the Guarantor hereby agrees with the Lender as follows:

     SECTION 1.  Definitions.  Reference  is hereby  made to the Loan,  the Loan
agreement  and the  Heads of  Terms  for a  statement  of the  respective  terms
thereof.  All terms  used in this  Guarantee  which are  defined in the Heads of
Terms and not otherwise  defined  herein shall have the same meanings  herein as
set forth therein.

     SECTION  2.  Guarantee.  (a) If the  Guarantor  terminates  the Offer for a
reason  other than the  failure of a condition  set forth in  paragraph 5 of the
Heads of Terms, the Guarantor hereby irrevocably, absolutely and unconditionally
guarantees  the prompt  payment  by the  Borrower,  as and when due and  payable
(whether by scheduled maturity,  required  prepayment,  acceleration,  demand or
otherwise)  (the "Due  Date"),  of all  amounts  now or  hereafter  owing by the
Borrower in respect of the Loan,  whether for  principal  of the Loan,  interest
(including  interest  accruing  on or  after  the  filing  of  any  petition  in
bankruptcy or for reorganization relating to the Borrower whether or not a claim
for  post-filing  interest  is  allowed  in such  proceeding),  fees  (including
collection  fees  as set  out in the  Loan  Agreement),  commissions,  expenses,
indemnifications or otherwise  (collectively,  the "Without Cause Amount").  The
Guarantor  will pay the Without  Cause Amount by issuing the Lender five hundred
thousand  (500,000)  Guarantee  Shares as full and complete  satisfaction of the
Guarantor's obligations under this Guarantee.

     (b) If the  Offer  terminates  as a result  of the  failure  of one or more
conditions set forth in paragraph 5 of the Heads of Terms,  the Guarantor  shall
provide the Lender and the Borrower  notice of  termination of the Offer and the
Heads of Terms (a "Termination  Notice") and the Guarantor  hereby  irrevocably,
absolutely and unconditionally  guarantees the prompt payment by the Borrower of
the  amount  equal to the  amount  of the Loan  (the "For  Cause  Amount").  The
Guarantor  will pay the For Cause  Amount by  issuing  to the  Lender  Guarantee
Shares with a fair market value (as  determined by the five day average  closing
price of the shares of common  stock of the  Guarantor as quoted on the American
Stock  Exchange or such other primary  exchange or public market for such shares
immediately  prior to the Due Date or the  Termination  Notice,  as  applicable)
equal  to the  Loan  as  full  and  complete  satisfaction  of  the  Guarantor's
obligations under this Guarantee.

     (c) Upon  failure by the  Borrower  to pay  punctually  as and when due and
payable all amounts owing by the Borrower in respect of the Loan,  the Guarantor
shall  forthwith



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on demand pay the Without Cause Amount or the For Cause Amount,  as  applicable,
at such placer as is specified by the Lender. Notwithstanding the foregoing, the
number of shares issuable to the Lender in full and complete satisfaction of the
obligations under this Guarantee shall not exceed 500,000 Guarantee Shares.

     (d) The Guarantee Shares have not been and will not be registered under the
Securities  Act of 1933, as amended (the "1933 Act"),  and will be issued to the
Lender in  reliance  upon  Regulation  S under the 1933  Act.  The  certificates
representing   the  Guarantee   Shares  shall  bear  a  restrictive   legend  in
substantially the form as follows:

     THE SECURITIES  REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED
     UNDER THE UNITED  STATES  SECURITIES  ACT OF 1933,  AS  AMENDED  (THE "1933
     ACT").  THESE  SECURITIES  MAY  BE  OFFERED,  SOLD,  PLEDGED  OR  OTHERWISE
     TRANSFERRED  ONLY (A) TO THE  COMPANY,  (B)  OUTSIDE  THE UNITED  STATES IN
     COMPLIANCE  WITH  RULE  904 OF  REGULATION  S UNDER  THE 1933  ACT;  (C) IN
     COMPLIANCE WITH THE EXEMPTION FROM THE REGISTRATION  REQUIREMENTS UNDER THE
     1933 ACT PROVIDED BY RULE 144 OR RULE 144A THEREUNDER, IF AVAILABLE, AND IN
     ACCORDANCE WITH APPLICABLE  STATE  SECURITIES LAWS, OR (D) IN A TRANSACTION
     THAT DOES NOT  REQUIRE  REGISTRATION  UNDER THE 1933 ACT OR ANY  APPLICABLE
     STATE LAWS AND REGULATIONS GOVERNING THE OFFER AND SALE OF SECURITIES,  AND
     THE HOLDER HAS, PRIOR TO SUCH SALE,  FURNISHED TO THE COMPANY AN OPINION OF
     COUNSEL, OR RECOGNIZED STANDING, OR OTHER EVIDENCE OF EXEMPTION, REASONABLY
     SATISFACTORY TO THE COMPANY.  HEDGING TRANSACTIONS INVOLVING THE SECURITIES
     REPRESENTED  HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933
     ACT.

     (e) The Lender  represents  and warrants that it, and if  applicable,  each
person for whose account it acquires Guarantee Shares:

          (i)  is not a "U.S.  Person,"  as that term is  defined by Rule 902 of
               Regulation S of the 1933 Act (the  definition of which  includes,
               but is not  limited  to, an  individual  resident  in the  United
               States  and  an  estate  or  trust  of  which  any   executor  or
               administrator or trustee,  respectively, is a U.S. Person and any
               partnership or corporation organized under the laws of the United
               States);

          (ii) Did not execute or deliver this Guarantee in the United States;

          (iii)Acknowledges  that no offers to sell the  Guarantee  Shares  were
               made by any other  person to the  Lender  while the Lender was in
               the United States; and



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          (iv) acknowledges  that the Guarantee  Shares are not being  acquired,
               directly  or  indirectly,  for the  amount or  benefit  of a U.S.
               Person or a person in the United States.

     (f) The Lender  agrees not to engage in any hedging  transactions  or other
transactions that have the effect of transferring the economic risk of ownership
of the Guarantee Shares unless such transactions comply with the requirements of
the 1933 Act.

     (g) The Lender agrees it will not offer, sell or otherwise  transfer any of
the Guarantee Shares directly or indirectly, unless:

          (i)  the sale is to the Guarantor;

          (ii) the sale is made  outside  the  United  States  in a  transaction
               meeting the  requirements  of Rule 904 of  Regulation S under the
               1933  Act  and in  compliance  with  applicable  local  laws  and
               regulations;

          (iii)the  sale is made in  compliance  with  the  exemption  from  the
               registration  statements  under the 1933 Act provided by Rule 144
               or Rule 144A thereunder, if available, and in accordance with any
               applicable state securities or "Blue Sky" laws; or

          (iv) the  securities  are sold in a transaction  that does not require
               registration under the 1933 Act or any applicable U.S. state laws
               and regulations governing the offer and sale of securities; and

with respect to subparagraphs  (iii) and (iv) hereof,  it has prior to such sale
furnished to the Guarantor an opinion of counsel reasonably  satisfactory to the
Guarantor.


     SECTION 3. Guarantor's Obligations Unconditional.

     (a) Except as otherwise  limited in Sections  2(b) and 2(d),  the Guarantor
hereby  guarantees that the amounts due under the Loan Agreement will be paid by
the  Guarantor  strictly  in  accordance  with the terms of the Loan  Agreement,
regardless  of any law,  regulation  or order now or  hereafter in effect in any
jurisdiction  affecting  any of such terms or the rights of Lender with  respect
thereto.  The  obligations of the Guarantor under this Guarantee are independent
of the Borrower's obligations under the Loan Agreement, and a separate action or
actions may be brought and  prosecuted  against the  Guarantor  to enforce  this
Guarantee, irrespective of whether any action is brought against the Borrower or
whether  the  Borrower  is  joined  in any such  action.  The  liability  of the
Guarantor hereunder shall be absolute and unconditional irrespective of: (i) any
lack of validity or  enforceability  of the Loan  Agreement or any  agreement or
instrument  relating thereto  (collectively,  the "Loan  Documents") or (ii) any
non-perfection of any lien on, or security interest in, any collateral.



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     (b) This  Guarantee  (i) is a continuing  guaranty and shall remain in full
force and effect until such date on which all of the  obligations  and all other
expenses to be paid by the Guarantor or the Borrower pursuant thereto shall have
been  satisfied  in full,  and (ii) shall  continue to be  effective or shall be
reinstated,  as the  case  may be,  if at any  time  any  payment  of any of the
obligations  is rescinded  or must  otherwise be returned by the Lender upon the
insolvency,  bankruptcy or reorganization  of the Borrower or otherwise,  as all
through such payment had not been made.

     SECTION 4. Stay of Acceleration. If acceleration of the time for payment of
any amount  payable by the Borrower  under the Loan Agreement is stayed upon the
insolvency,  bankruptcy  or  reorganization  of the  Borrower,  all such amounts
otherwise  subject to  acceleration  under the terms of the Loan Agreement shall
nonetheless  be payable by the  Guarantor  hereunder  forthwith on demand by the
Lender.

     SECTION 5. Subrogation.  Upon making any payment under this Guarantee,  the
Guarantee  shall be subrogated to the rights of the Lender  against the Borrower
with  respect  to such  payment;  provided,  however,  until  the  Loan has been
satisfied in full, the Guarantor  hereby waives and  irrevocably  agrees it will
not  exercise  any and all  rights  which it has or may have at any time or from
time to time  (whether  arising  directly or  indirectly  by operation of law or
contract)  to assert any claim  against the  Borrower on account of any payments
made under this Guarantee,  including,  without limitation, any and all existing
and  future  rights of  subrogation,  reimbursement,  exoneration,  contribution
and/or  indemnity.  If any amount  shall be paid to the  Guarantor on account of
such  subrogation  rights at any time when the Loan and all such other  expenses
shall  not have been paid in full,  such  amount  shall be held in trust for the
benefit of the Lender, shall be segregated from the other funds of the Guarantor
and shall forthwith be paid over to the Lender to be applied in whole or in part
by the Lender against the Loan, whether matured or unmatured, and all such other
expenses in accordance with the terms of the Loan Documents.

     SECTION 6. Maximum Guaranteed Amount.  Notwithstanding  any other provision
of this Guarantee to the contrary, if the obligations of the Guarantor hereunder
would  otherwise be held or determined by a court of competent  jurisdiction  in
any action or proceeding involving any bankruptcy,  insolvency,  reorganization,
moratorium, fraudulent conveyance or other law affecting the rights of creditors
generally,  to be void, invalid or unenforceable to any extent on account of the
amount of the Guarantor's  liability under this Guarantee,  then notwithstanding
any other  provision  of this  Guarantee  to the  contrary,  the  amount of such
liability shall, without any further action by the Guarantor or any other person
or entity,  be  automatically  limited to 500,000  shares of common stock of the
Guarantor.

     SECTION 7. Notices, Etc. All notices and other communications  provided for
hereunder  shall be in writing and shall be mailed (by certified  mail,  postage
prepaid  and return  receipt  requested),  telecopied  or  delivered,  if to the
Guarantor,  to it at its  address  set  forth in the Loan  Agreement;  if to the
Lender, to it at its address set forth in the Loan Agreement; or, as to any such
person, at such other address as shall be designated by such person in a written
notice to such other  persons  complying  as to delivery  with the terms of this
Section 7. All such notices and other  communications  shall be effective (i) if
sent by  registered  mail,  return  receipt  requested,  when  received or three
business days after mailing,  whichever first occurs,  (ii) if telecopied,  when



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transmitted and a confirmation  is received,  provided the same is on a business
day and, if not, on the next business day, or (iii) if delivered, upon delivery,
provided the same is on a business day and, if not, on the next business day.

     SECTION 8. Integration. This Guarantee constitutes the entire agreement and
understanding among the parties hereto in relation to the Guarantor's  guarantee
to  repay  the  Loan  and   supersedes   any  and  all  prior   agreements   and
understandings, oral or written, relating to the subject matter hereof.

     SECTION  9.  Governing  Law.  This  Guarantee   shall  be  subject  to  the
non-exclusive  jurisdiction  of the English  Courts and  governed by the laws of
England.

     SECTION 10. Miscellaneous.

     (a) The Guarantor  will make each payment  hereunder in lawful money of the
United States of America and in immediately  available funds or at the option of
the Lender shares of common stock to the Lender at such address specified by the
Lender from time to time by notice to such the Guarantor.

     (b) No amendment  of any  provision  of this  Guarantee  shall be effective
unless it is in  writing  and signed by the  Guarantor  and the  Lender,  and no
waiver of any  provision of this  Guarantee,  and no consent to any departure by
the Guarantor  therefrom,  shall be effective unless it is in writing and signed
by the Lender,  and then such waiver or consent  shall be effective  only in the
specific instance and for the specific purpose for which given.

     (c) No  failure  on the part of the  Lender  to  exercise,  and no delay in
exercising,  any right  hereunder or under the Loan Agreement shall operate as a
waiver thereof,  nor shall any single or partial  exercise of any right preclude
any other or further  exercise  thereof or the exercise of any other right.  The
rights  and  remedies  of the  Lender  provided  herein  and in the  other  Loan
Documents  are  cumulative  and are in addition  to, and not  exclusive  of, any
rights or  remedies  provided  by law.  The rights of the Lender  under the Loan
Agreement  and any  agreement  or document  relating  thereto  against any party
thereto are not  conditional  or contingent on any attempt by any such person to
exercise any of its rights under any other Loan  Document  against such party or
against any other person.

     (d) Any provision of this Guarantee which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining portions
hereof or thereof or affecting the validity or  enforceability of such provision
in any other jurisdiction.

     (e) This Guarantee shall (i) be binding on the Guarantor and its successors
and assigns, and (ii) inure, together with all rights and remedies of the Lender
hereunder,  to the  benefit of the Lender and its  successors,  transferees  and
assigns.  Without  limiting  the  generality  of clause (ii) of the  immediately
preceding sentence, the Lender may, with prior written consent of the Guarantor,
which shall not be unreasonably withheld, assign or otherwise transfer the Loan,
and assign or otherwise  transfer its rights under any other Loan  Document,  to
any other person,  and such other person shall thereupon  become vested with all
of the benefits in respect



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thereof  granted  to the  Lender  herein  or  otherwise.  None of the  rights or
obligations of the Guarantor hereunder may be assigned or otherwise  transferred
without the prior written consent of the Lender.

     (f) The  parties  to this  Guarantee  do not  intend  that any term of this
Guarantee  should be  enforceable  by virtue of the  Contacts  (Rights  of Third
Parties) Act 1999 by any person who is not a party to this Guarantee.

     SECTION 11. Agency. Schroder Investment Management Limited ("SIM") has been
given  authority  by the Lender to execute  this  Guarantee on its behalf and by
signing  this  Guarantee  is only doing so in its capacity as agent on behalf of
the  Lender.  All  rights,  obligations,  warranties  and  covenants  under this
Guarantee are between the Lender and the Guarantor and not SIM.












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<PAGE>

     IN WITNESS  WHEREOF,  the parties have caused this Guarantee to be executed
and delivered as a deed as of the date first above written.



                             ABLEAUCTIONS.COM, INC.



                             By: /s/ Ron Miller
                                 -------------------------------------------
                                 Name:  Ron Miller
                                 Title: VP/CEO



                             NORTHERN IRELAND LOCAL OVERNMENT OFFICERS'
                               SUPERANNUATION COMMITTEE



                             By:
                                 -------------------------------------------
                                 Name:
                                 Title: