President Ahmadinejad's 'classic' Peugeot car sells for $2.5m in Iranian auction

A white 1977 Peugeot 504 that once belonged to Iran president Mahmoud Ahmadinejad achieved a staggering price at auction this week.

Iranian and Israeli news sources are reporting that the car, which has a blue interior and 36,867km on the clock, was sold for close to $2.5m. Ahmadinejad was often seen in the vehicle when he was Tehran's mayor between 2003 and 2005.

The semi-official Iranian news agency ISNA reports that the unidentified buyer plans to build a museum to house the car.

The buyer's lawyer Mahmoud Esari said in a statement: "My client bought the car because of a personal interest in President Ahmadinejad and his spirit of anti-arrogance and anti-Zionism."

The proceeds from the auction will go towards building a housing project for low income individuals.

Ahmadinejad has promised that he will provide homes for all Iranians.


One careful owner

Peugeot 504s were built between 1968 and 1983 and rare versions can occasionally make five figures.

Celebrity owned cars are highly collectible and can make for good investments. The psychedelic Rolls Royce Phantom V owned by John Lennon sold for $2.29m in 1985.

 

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