By William Stolerman via BBC

The creaking 1977 Peugeot 504 that ferried around President of Iran Mahmoud Ahmadinejad during his 2005 election campaign is heading to auction where it could fetch a staggering sum of money.

The vehicle helped foster Ahmadinejad’s down-to-earth image to the Iranian people and is being auctioned to raise money for housing the country’s disabled and women-in-need.

The administration has promised to build nearly 1 million housing units by March 2011 and a website has been launched to invite bids on the vehicle.

Offers are being accepted until the end of January and the car has already attracted a $1 million bid.

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