«GOOD BUSINESS IS THE BEST ART»

An unusual German startup, Auctionata, jumped head first into the art of big money auctioneering. The only difference is, the Berlin-based firm took their goods and gavel show to the world of webcast. Less than a year old, the company has already broken a million-dollar record.

This past Friday, Auctionata auctioned off a painting for more money than any online auction has managed to generate for a painting ever. “Reclining Woman,” a 1916 watercolor by Egon Schiele, was sold for EUR 1.8 million (that’s $2,356,200),* according to the company. That price tops the figure commanded by Andy Warhol’s “Flowers” series that commanded $1.3 million in 2011.

-Forbes

 June 24 2013