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.
Remember that, despite valuations and estimates, a private number plate is only worth as much as someone will pay for it. You may have loved your personalised number plate because it contains your initials, for example, but if there aren’t many other people with your initials, the plate’s value may be minimal. On the other hand, if you have a plate whose letters contain common or popular names, you may well find that it is in high demand on the market.
Some criteria to consider when valuing a personalised car number plate
Take into account the following criteria when trying to come up with a valuation for your private number plate. You need to look at them all together if you want a realistic price, so you can’t just pick and choose the factors that favour your number plate!
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