Third Tehran Auction Doubles High Presale Estimate

The third Modern & Contemporary Iranian Art sale organized by Tehran Auction grossed $5.1 million, almost twice its $2.7 million higher presale estimate. Held on May 30 at the Azadi Grand Hotel in Tehran, the strong results confirm the growing interest in art from the region.

All of the sale’s 90 lots sold. Seven new world records were set for modern masters Sohrab Sepehri, Reza Derakhshani, Mohammed Ehsai and contemporary artists Shahriar Ahmadi, Dana Nedaran, Babak Roshani-Nejad, and Bita Vakili. The top price belonged to Untitled (from the Tree Trunk series) by Sepehri, which fetched a handsome 1.8 Billon RLS ($680,000).