Politics
In November 2010. Iranian state television announced Iranian President Mahmoud Ahmadinejad was to auction off his 1977 Peugeot 504 to raise money for charity. The car is white with a sky-blue interior, and has covered only 37,000 km since new. The political significance of the car being a 504 is that it was used as a working-class status symbol to draw electoral support from the less well-off during the 2005 presidential campaign. The money earned from the sale at international auction is to be donated to the Mehr housing project, a network of cooperatives that provides affordable housing for low-income families.
Soon after being put on auction in January 2011, a bid of $1 million was received from "an Arab country". When the auction closed in March 2011, the final bid was $2.5 million.
Read more about this topic: Peugeot 504
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