One difference is the rear wing, the second is the bonnet, the cars number is on the first, it's a sponsor decal on the second, the other I can see is the front wings or whatever they're called at the front corners.
The cars arn't worth that much, he's using the Japanese version where 1 million is the same at 10,000 in the PAL version. In Japan things seem very expensive cos you get alot of yen for a pound so a PS2 would cost a few thousand yen, (I think thats right anyway).
