A 1916 watercolor by Egon Schiele brought the top price yet for an artwork offered in an online-only auction on Friday, according to German start-up Auctionata.
Schiele's “Reclining Woman” sold for EUR 1.8 million ($2,356,200) with fees, Auctionata reports. The price exceeds last year's online-only sale record of $1.3 million for an artwork from Andy Warhol's "Flowers" series.
Auctionata has 250 auction specialists, curators and appraisers who guarantee the authenticity of items in the online sales. With plans to open a showroom in New York, Auctionata currently holds specialty auctions in various catagories.
The company raised $20.2 million in capital last April.