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The German startup, Auctionata, sold Egon Schiele’s (1890-1918) Reclining Woman (1916) for $2.3 million, breaking the record for any artwork sold as part of an online auction. The company, which is less than a year old, auctioned the watercolor on Friday, June 21, 2013 via webcast. The online auction record was previously help by Andy Warhol (1928-1987) whose Flowers series garnered $1.3 million in 2011.

Auctionata, which is helmed by Alexander Zacke, a former Ebay advisor, is planning to expand its online auction offerings to include various categories such as jewels, classic cars, wine and fine art. Along with holding weekly auctions, the company is hoping to establish an online showroom in New York City.

Auctionata currently employs around 250 people including specialists, curators and appraisers. Besides its online auction platform, the website boasts an online store where visitors can purchase antique or special items at their leisure.

A painting by renowned Pop artist Roy Lichtenstein (1923-1997) will be the highlight of Masterpiece London, which takes place at the Royal Hospital Chelsea from June 27 through July 3, 2013. Now in its fourth year, the show presents the finest art, antiques, and design from across the globe.

While works ranging from furniture, jewelry, and books to classic cars, watches, and whiskey will be offered, there is one particular artwork generating tons of pre-show buzz. Geoffrey Diner, a Washington, D.C.-based art dealer, will present Roy Lichtenstein’s Puzzle Portrait (1978), which has not been seen in public in 30 years and has never appeared at auction. Similar paintings are part of the Guggenheim Museum’s and the Metropolitan Museum of Art’s collections in New York. Puzzle Portrait is expected to garner around $10 million.    

Diner has revealed little about the painting’s provenance other than the fact that it was sold in 1984 to “a prominent American collection.” Diner purchased the painting privately last year and the change of ownership still has not been registered in the Lichtenstein Foundation archives. The identity of the previous owners will be revealed to the buyer upon acquisition of the painting. The future buyer will also be given the personal correspondence between them and the artist from the original transaction.