Fresh from raising $34 million Series C funding, of $44 million total from a host of high-profile investors, online auctioneer Paddle8 talks strategy with Forbes. Chairty auctions and contemporary art lots with an average selling price of $4,800 have taken the young company to $25 million in sales by the second quarter of 2015 alone.

“Our lofty vision is that there should be three auction houses in the world–Sotheby’s and Christie’s at the higher end, focusing on the business of selling work of $500,000 and up, and us operating online, consolidating this middle market of $500,000 lots and below,” cofounder Alexander Gilkes tells Forbes.

“I noticed auction attendance was dwindling and that these auctions occurred at times of day that didn’t best capture international demand,” Gilkes says.

Wiith the bulk of lots listed in the $5,000 to $50,000 range, Paddle8 is setting their sights on capturing a market share of young, new art collectors online.