BREAKING NEWS

Iran auctions leader's Peugeot for $2.5 million

By REUTERS

MARCH 1, 2011 22:19

TEHRAN - A 1977 Peugeot sedan belonging to Iranian President Mahmoud Ahmadinejad was sold for $2.5 million on Tuesday in a charity auction, Iranian media reported.

Ahmadinejad announced last year he would put up the vehicle for auction and donate the money to a housing project for low-income families. A multilingual website was designed to receive the bids.

"President Ahmadinejad's Peugeot 504 was sold for 2.5 billion tomans ($2.5 million) to an Iranian who took part in the auction," Isna news agency reported.

"After Iran, most visitors of the website were from America," it quoted the head of Iran's Welfare Organisation as saying at a ceremony to hand the car key to its new owner.

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