Tag: 504

Report: Ahmadinejad’s tired 1977 Peugeot 504 draws $1M bid

Filed under: Auctions, Etc., Peugeot, Middle East

Mahmoud Ahmadinejad's 1977 Peugeot 504

Peugeot 504 – Click above for high-res image gallery

Iranian President Mahmoud Ahmadinejad recently put his 1977 Peugeot 504 on the auction block. The original price for a ’77 504 was in the neighborhood of $9,000, and a used one like Ahmadinejad’s could fetch $2,000 in its local market. The bidding just got a massive shot in the arm, however, because someone thinks the car is worth a million bucks.

The million-dollar bid came from an Arab country but further details have not been released. Proceeds from the sale of the 504 will be used to build a low-income housing project.

Gallery: 1968-1983 Peugeot 504

[Source: CNN]

Report: Ahmadinejad’s tired 1977 Peugeot 504 draws $1M bid originally appeared on Autoblog on Sat, 08 Jan 2011 12:09:00 EST. Please see our terms for use of feeds.

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Iran’s Ahmadinejad auctioning his ’77 Peugeot 504 for charity

Filed under: Classics, Auctions, Government/Legal, Peugeot, Middle East

Peugeot 504

Peugeot 504 – Click above for high-res image gallery

Given the manner is which demonstrations are put down by the Islamic Republic, populism may not seem like a key element in Iran’s political system. But in an effort to gain support from lower classes during his campaign, Iranian President Mahmoud Ahmadinejad rode around in his modest 1977 Peugeot 504. Not an extravagant car by any means, but one that became a symbol for the despotic ruler.

Part of his campaign pledge was to create housing for low-income Iranians, and to that end the president is selling his Peugeot. Proceeds from the car’s sale are earmarked to benefit the Mehr housing project. The vintage French sedan is actually registered to the president’s wife, but given the association, this particular example is sure to sell for more than the modest sum it would otherwise fetch. Thanks for the tip, zedster!

Gallery: 1968-1983 Peugeot 504

[Source: Yedioth Ahronoth | Images: Peugeot]

Iran’s Ahmadinejad auctioning his ’77 Peugeot 504 for charity originally appeared on Autoblog on Sat, 27 Nov 2010 09:33:00 EST. Please see our terms for use of feeds.

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