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.
Notable deaths of 2014 [PHOTOS]
Soviets call Reagan joke 'dangerous' [ARCHIVE]