Ahmadinejad's Old Peugeot Sells For $2.5 Million

by Deidre Woollard (RSS feed)
Mar 2nd 2011 at 9:01AM

Earlier this year we questioned whether or not a 1977 Peugeot 504 belonging to Iranian President Mahmoud Ahmadinejad could sell for a million dollars. It turns out the answer is yes, and then some. The AFP is reporting that the 34-year-old car worth only several thousand dollars has sold for a whopping 25 billion rials (around $2.5 million) in an auction to raise money for housing for low-income families in Iran. The winning bidder was an anonymous company. The AFP quotes the mystery buyer's lawyer Mahmoud Esari who said that his client bought the car because of a "personal interest in President Ahmadinejad and his spirit of anti-arrogance and anti-Zionism." During his candidacy several years ago Ahmadinejad often appeared in the car to show that he was a man of the people.

Tags: Ahmadinejad, iran, Mahmoud Ahmadinejad, peugeot