Elite Auction Co.
- Derek WoottonFounder · Company website
How we got $381K
Based on typical figures for its industry (2022 Economic Census), not its own records.
What we know
What they do
Elite Auction Co. runs online and on-site machinery auctions, connecting buyers and sellers with bidding and consignment services for high-quality, like new machinery. It is based in Elk City, Oklahoma.
From the company's website. Industry: Retail Trade.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| Elite Auction Co. this business | $2.1M | — |
| Pew & Plow Thrift Elk City | $2.1M | 0.8 mi |
| Cbd Plus Usa - Elk City Elk City | $2.1M | 0.8 mi |
| Stage Elk City | $1.5M | 0.8 mi |
| Intoxalock Ignition Interlock Elk City | $2.1M | 1.0 mi |
| Smart Start Ignition Interlock Elk City | $2.1M | 1.1 mi |
| Thrift Shop Elk City | $2.1M | 1.9 mi |
The full calculation
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $381K |
| Multiple for this size and industry | 2× |
| Value range | $119K – $626K |
This business has no PPP loan on record, so there is no business-specific data. The figures are the typical estimated revenue of Retail Trade businesses in our Oklahoma data: the middle value, with the range covering the middle half of those businesses. EBITDA applies the industry margin (9%). Treat these as a rough guide.
| Revenue range | $821K – $2.9M |
| EBITDA range | $74K – $261K |
| Industry (NAICS) | Retail Trade (453) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: approximate sector default. These are statistical estimates, not reported financials. Listing details come from Overture Maps open data. Full methodology
History & advisors
“Founded by Justin Armitage and Derek Wootton, Elite Auction Co. brings 60 years of combined experience to online and onsite farm equipment auctions—serving sellers locally and buyers nationwide.”
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Elite Auction Co.
Elite Auction Co. is a retail trade company in Elk City, Oklahoma, in business since 2023. It is owned by Justin Armitage (Founder). Its estimated annual revenue is about $2.1M, with roughly $190K of EBITDA. Its estimated business value is $381K (likely range $119K–$626K).
Common questions
- Who owns Elite Auction Co.?
- Elite Auction Co. is owned by Justin Armitage (Founder), according to public sources such as the company's website or filings.
- How much revenue does Elite Auction Co. make?
- SeeBITDA estimates Elite Auction Co.'s annual revenue at about $2.1M (likely between $821K and $2.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Elite Auction Co. worth?
- About $381K, roughly 2× its estimated EBITDA of $190K, typical for a retail trade company its size. Likely range: $119K–$626K.
- When was Elite Auction Co. founded?
- Elite Auction Co. has been in business since 2023.