Another UAE Number Plate Makes Record Price At Auction
Number plate R 111 was the biggest attraction at the Roads and Transport Authority’s (RTA) 96th licensing open plates auction held on Saturday, bagging Dh2.65 million.
The popular auction that generated a revenue of Dh24.8 million had 80 unique number plates up for grabs.
Ahmad Behroozian, CEO of RTA’s Licensing Agency, said that the Dh24.8 million revenue raised from the auction reflects the remarkable popularity of the event.
Other big catches at the auction were F-999 that went for Dh1.06 million, while M-7777 and N-1000 bagged Dh800,000 each.
“The auctions organised by the RTA are characterised by transparency and enthusiasm. They measure up to the aspirations of customers who seek exclusivity in this regard. Such auctions suffice the needs and aspirations of number plate enthusiasts,” said Behroozian.
Last October, Indian businessman Balwinder Sahani created history when he bought the number plate D-5 for Dh33 million, which remains the most expensive number plate in Dubai.
However, in December another single digit number Q-2 was up for grabs, which surprisingly found no buyer.
The last in the series of single digit plates, the plate was offered at a base price of Dh33 million.
RTA’s open number plates auctions draws huge crowds, mostly from enthusiastic young Emiratis as well as seasoned collectors, generating huge revenue for the authority.
When you are getting a valuation for your private registration number, think about the fact that certain types of number plate match will lead to much higher worth. These include plates that represent names, initials, models or makes of cars, or words.
The rarity and desirability of any combination of letters and numbers on a registration plate will essentially determine its value on the market. Bear in mind that there is only one version of every number plate in existence, so each is basically rare because it’s unique. But its value requires more than that exclusivity, it must also be worth something to somebody else. People will pay more for a good representation of their name than they will for an average representation of their initials, for instance, so how well a number plate depicts the word, interest, name or initials in question can add or subtract £hundreds or even more from its price tag.
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