As this issue of Classic Car Mart was going to print, Britain’s Daily Mail newspaper was reporting a $1 million bid for a 1977 Peugeot 504 – the personal property of Iranian president Mahmoud Ahmadinejad, who is auctioning the car to raise money for a low-income housing project in Iran.

An Iranian newspaper was quoted as saying that various bids from abroad had been received via a special website set up for the auction – including a top bid of $1 million (around £645,000). However, the identity of the bidder was being kept secret. The auction is set to run until the end of January, with the result announced by mid-February.

The 504 has been rarely used since Ahmadinejad became president of Iran in 2005. Prior to that, during his days as mayor of Tehran, the car was said to be his main mode of transport.