The auction on Iranian President Mahmoud Ahmadinejad’s 1977 Peugeot 504 officially closed earlier this week with winning bid of .5 million. The funds are set to be used to build housing for low-income families. According to MSNBC, Iran’s Wellfare Organization, which organized the auction, hasn’t released the name of the Pug’s new owner, though there is some indication that the vehicle will be displayed in a museum in the near future. Locally, the vehicle would likely carry a price tag of around ,000 without its unique ownership history. Ahmadinejad was frequently seen using the vehicle while he was Mayor of Tehran, but the Iranian President has favored other transportation since he took office in 2005.

According to MSNBC, Ahmadinejad campaigned on the promise to house every Iranian, and the charity auction is an attempt to make good on that pledge. Interestingly enough, outside of Iran, the most visitors to the auction’s website came from right here in the good ol’ USA.

[Source: MSNBC]

Followup: Ahmadinejad’s Peugeot reportedly sells for .5M originally appeared on Autoblog on Thu, 03 Mar 2011 17:59:00 EST. Please see our terms for use of feeds.

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