Ahmadinejad's 33-year-old car in charity auction

A 33-year-old car owned by the Iranian president's has received a $1 million bid in a charity auction in an attempt to raise money for a low-income housing project.

The white Peugeot sedan, dating back to 1977, was put on auction to fund housing projects for disabled and young people.

The president used to make a point of being seen in the humble white Peugeot 504 sedan when he was Teheran mayor, before he became president in 2005. But these days he rarely uses the car, probably because of security. It would probably be worth around $2,000 on the local market.

The auction will be held in mid-February in the southwestern city of Abadan. Top bidders will be in attendance, and online offers can be made until the end of January. An Iran daily newspaper said that various bids have been received on the website set up for the auction, including one for $1 million. But it did not elaborate on the identity of the bidders.

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