President Ahmadinejad to sell his car for more than $1m

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President Mahmoud Ahmadinejad has reportedly received a $1m (£640,000) bid for his 34-year-old Peugeot just a day after he put it on sale.

However, the most striking thing about the car is that aside from its owner there is nothing special about it at all - it is just a humble, 1977 Peugeot 504 saloon, albeit in apparently immaculate condition and with a fetching blue interior and a low mileage of around 37,000.

But the special thing about this car is not what it is, but what it is being sold for. The Iran President is auctioning the Peugeot to raise funds for a low-income housing project in his country, which is aiming to put a roof over the head of every poor Iranian.



The car would normally be worth around $2,000 if sold locally, but has been the subject of a generous bid from an unnamed foreign benefactor. We imagine the pleasure of being seen to be a generous donator is more of a draw than an old French saloon.

Prospective buyers are asked to register on a website, and the top bidders will be invited to an auction in the middle of February.