Iran's domestic art scene thrives despite economic sanctions

ByREUTERS
June 1, 2014 20:28

DUBAI - Iran's smart set turned out in force for this year's Tehran Art Auction, spending a record amount as the country's modern and contemporary art scene thrives despite economic sanctions.

The annual event on Friday was a sell-out, raising $5.1 million from the auction of works by Iranian artists, more than double the amount fetched last year.

While Western sanctions since 2010 on Iran's oil and financial sectors have sapped Iranian collectors' purchasing power, and forced them to retreat from international art auctions such as Christie's, they have also been a catalyst to building up the domestic art market.

Share this article via
Related Content
Breaking news
May 28, 2017
Netanyahu, cabinet ministers hold meeting at Western Wall

By JPOST.COM STAFF

Israel Weather
  • 19 - 32
    Beer Sheva
    18 - 27
    Tel Aviv - Yafo
  • 18 - 25
    Jerusalem
    18 - 26
    Haifa
  • 26 - 37
    Elat
    20 - 35
    Tiberias