Bush's 2009 Ford F-150 King Ranch 4x4 SuperCrew was part of the Barrett-Jackson collector car auction in Scottsdale, Arizona, the Examiner noted.
This is the second time the former president is involved with this type of auction. Last year, Barrett-Jackson auctioned a New Holland tractor owned by Jay Leno and signed by George W. Bush for $535,000. The proceeds also went to the Fisher House Foundation.
As for the F-150, the former first couple used it to roam around their Crawford Texas ranch, which is about 120 miles aways from their Dallas home.
"I haven't driven on a street in many, many years, but I have been able to drive this truck on my ranch," Bush said in a statement.
Before it went up for auction, the president autographed the right airbag panel on the truck. As an added bonus, the buyer received a video showing Bush signing the panel and driving the truck around his ranch.
The Fisher House Foundation has offered free housing and lodging to military families since 1999.