Financial Tribune - The 12th Tehran Auction of Iranian artworks on Friday earned 317.17 billion rials ($2.42 million).

The auction at Tehran’s Parsian Azadi Hotel saw 118 classic and modern artworks going on sale.

A work by Hossein Zenderoudi, Iranian painter, calligrapher and sculptor, known as a pioneer of Iranian modern art and one of the earliest artists to incorporate Arabic calligraphy elements into his artwork, was sold for 32 billion rials ($244,274) to fetch the highest auction price in the current round, Tehranauction.com reported.