The catwalk has met the auctioneer's gavel and gone online.

In a streaming fashion show Saturday, a California auction house aimed to modernize the auction format with what it calls the "first ever runway fashion show auction."

GWS Auctions offered for sale a vast collection of Chanel-labeled fashion and accessories, along with items formerly belonging to late Hollywood actress Elizabeth Taylor.

The entire collection would be worth more than $25 million if bought in stores at current prices, organizers said, though the seller wished to keep final selling prices private.

During the sale in Beverly Hills, models wore the main pieces while the show was streamed online "so bidders from around the world can participate," GWS said.