NAPLES, Fla., Aug. 24, 2020 /PRNewswire-PRWeb/ -- Inc. Magazine today revealed that ELITE AUCTIONS is No. 1,448 on its annual Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies, up from its debut ranking of 3,522 in 2019. ELITE AUCTIONS also appears at No. 128 on the Florida companies Inc. 5000 list. The Inc. 5000 list represents a unique look at the most successful companies within the American economy's most dynamic segment —its independent small businesses.
"The entire ELITE AUCTIONS team is very proud of this well-deserved recognition for the success we have demonstrated over the past year alone," said ELITE AUCTIONS CEO and Founder, Randy Haddaway. "Elite continues to dominate in today's real estate and yacht auction marketplace because of the quality and depth of our team, because of our commitment to earning trust and operating with transparency and integrity, and simply because our accelerated marketing process works."
Another factor contributing to ELITE's 306% year-over-year increase in growth is its newly-launched yacht auction division. In 2019, ELITE AUCTIONS entered the luxury yacht auction industry and most recently sold a 97-foot Marlow yacht for just over $2.2 million with seven registered bidders competing for the win.
"Expanding our business to include non-distressed luxury yachts has definitely helped us grow as a company over the past year and from a business perspective, it just makes perfect sense to become a leader in the luxury yacht sales market," said Tara McLean, President of ELITE AUCTIONS. "It's extremely gratifying to see us well-represented among the Inc. 5000 fastest-growing businesses and we cannot wait to see our ranking significantly increase again next year."
The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000's aggregate revenue was $209 billion in 2019, accounting for more than 1 million jobs over the past three years.
"The companies on this year's Inc. 5000 come from nearly every realm of business," says Inc. Magazine editor-in-chief Scott Omelianuk. "From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism."
About ELITE AUCTIONS
ELITE AUCTIONS has marketed more than $1 billion of high-value property and luxury yachts for auction with no reserve, accelerating the sale of more than $450 million in luxury assets in the past three years since its inception. As the premier resource for luxury property auctions, ELITE AUCTIONS has sold numerous high-end estates and one luxury yacht. Its luxury home auction team is dedicated to helping owners receive the best value for their property and secure a sale in a timely manner. From expansive compounds to metropolitan penthouses, ELITE AUCTIONS' team of market directors has the skills and experience necessary to promote the sale of a variety of luxury real estate assets. Offering turnkey service to include every detail, including property showings, photography and cinematography, marketing, negotiations and more. In addition to high-end real estate auctions, ELITE AUCTIONS also markets and produces luxury yacht auctions to help yacht owners find qualified buyers for their high-value motor and sailing yachts.
About Inc. and the Inc. 5000
The 2020 Inc. 5000 is ranked according to percentage of revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million.
SOURCE Elite Auctions
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