On the evening of May 29, the luxurious Hotel Parsian, which belongs to Iran's private Parsian Bank, hosted the Fourth Annual Tehran Artwork Auction. In this auction, 126 works by 109 artists were presented to a group of about 600 people, who bought 84 paintings, 23 calligraphies, 13 statues and six photographs in all. The official website of the Tehran Artwork Auction reports that $6,375,000 worth of artwork was presented.
The reported value of the Tehran Artwork Auction was $4 million in 2014, $1.98 million in 2013 and $650,000 in 2012, showing a tenfold increase in the past three years.
