Iranian collectors are queuing to bid on an Iranian-built luxury car given to the late communist dictator Nicolae Ceausescu in 1974 by the Shah of Iran to mark his election as president of the now-defunct Socialist Republic of Romania.
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BUCHAREST (Reuters) - A private Romanian collector won an auction on Thursday for a luxury car given to the communist dictator Nicolae Ceausescu by the Shah of Iran, outbidding Iranian collectors who had hoped to bring the car home.
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The Shah had gifted Ceausescu the Iranian-made car in 1974 to mark his election as president of the now-defunct Socialist Republic of Romania.
The Paykan Hillman Hunter, built from 1967 onwards, was the first car built by the Iranian National Company, and became not only a landmark of Iranian industry but also a national icon.
On Thursday, the car was sold to a Romanian collector for 95,000 euros, 24 times the starting price, Alina Panico, of the Artmark auction house in Bucharest, told Reuters.
THAILAND: Preparations are underway to nominate Andaman Marine Protected Areas as a World Heritage Site at a World Heritage Committee session in July, in the hopes of helping stimulate the economy pos
There were just under 2,900 homes taken to auction across the capital cities last week, with a clearance rate of just over 78 per cent, CoreLogic figures have shown.