Ahmadinejad

Ahmadinejad's Old Peugeot Sells For $2.5 Million

Filed under: Auctions

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

Iran's Ahmadinejad Auctioning Off his 1977 Peugeot

by Noah Joseph (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions, Charity

Iran's Ahmadinejad Auctioning Off his 1977 Peugeot

Looking to get your hands on a presidential ride? Well this might seem like a stretch from the Cadillac which Barack Obama rides around in, but it is presidential nonetheless. A 1977 Peugeot 504, it belongs to Iranian President Mahmoud Ahmadinejad – or to his wife, if you want to get technical about it – but it's about to go up for auction.

The vehicle played a key role in the Persian leader's campaign for the presidency, in which he pledged to create more housing for low-income families in Iran. To that end, he's putting the car up for auction, proceeds benefiting the country's Mehr housing project. Given the notoriety of its owner, this particular example is expected to bring in more than the average '70s Peugeot.

Gallery: Peugeot 504