Will a 1977 Peugeot 504 Sedan Fetch $1 Million at Auction?

Peugeot 504 Sedan Iran

In auto news, it seems that a 1977 Peugeot sedan has received an online bid for $1 million dollars.  So why the exotic car price for a dated daily driver?  Will this sedan seriously snag the selling price of a Bugatti?  The story is in the details.

 

Peugeot Sedan Iran Auction

The Peugeot has belonged to Iranian president Ahmadinejad for 33 years, and is now on the auction block in efforts to raise money for a low-income housing project. Ok, now I am hoping the Peugeot hits its mark.  The housing project would serve young and disabled Iranians, as part of the president’s campaign promise to put a roof over the head of every poor Iranian. While the car is far from a clunker, it is not exactly a Ferrari F430 Spider, yet it may well surpass the selling price for one. 

Iranian President Hosts Auction

Iran Auto Auction

But the sale is not exactly in the bag yet, so far several bids have been received via a multilingual website, from which the top bidders will be invited to the actual auction.  The auction will be held in mid-February and online offers can be made until the end of January.  Typically this model would grab approximately $2,000 on the local auto market.

 

 

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