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The company, who conduct live-stream auctions online across a range of traditional art and antiques disciplines from Old Masters to books and manuscripts, say the net turnover of €4.6 million from 17 sales in the first quarter of 2014 represented a five-fold increase on the same period last year with sell-through rates running at 77%.

An online shop offering over 10,000 items for sale at fixed prices accounts for 30% of turnover.

 "We are proud that Auctionata has been able to establish itself within the art and auction market in less than a year from the inception of live-stream auctions," said CEO Alexander Zacke: "We are looking forward to leveraging this increase in capital by expanding Auctionata's global activities and broadcasting online auctions live from New York as of November."