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Sun 2 Jan 2011 11:31 AM

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Ahmadinejad’s old Peugeot sees $1m bid during auction

Million dollar bid for Iranian president’s car comes from unnamed Arab country, says news agency

Ahmadinejad’s old Peugeot sees $1m bid during auction
Iranian President Mahmoud Ahmadinejad. The sale of his car comes at a time when his government has slashed food and energy subsidies

A
33-year-old Peugeot owned by Iranian President Mahmoud Ahmadinejad that has been put up for international auction has attracted an offer of $1m (£640,000),
state media said.

Ahmad
Esfandiari, head of Iran's welfare agency, was quoted by Iran's Irna news
agency as saying that the bid had come from an Arab country. He did not give
details.

Ahmadinejad
on Saturday launched a website (www.ahmadinejad-car.com)
to invite international bids for the 1997 white Peugeot 504, saying the
proceeds would go to a fund for homes for disabled people and to needy women.

Bidders
have one month to submit offers for the car, Irna said.

Earlier,
officials had said they hoped the car would fetch more than the $2,000 (1,500
euros; £1,300) such cars usually sell for in Iran.

The
sale comes at a time when Mr Ahmadinejad's government has cut food and energy
subsidies, raising the cost of living substantially.

The
Peugeot was listed by Ahmadinejad under an asset declaration made in his first
term as president in 2005. The ageing white Peugeot was named alongside a 175
sq m house in East Tehran, and the contents of two bank accounts.