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.
How close a series of letters or numbers are to a real name of word: if the match quality is high (and the numbers and letters are very convincing in making a popular word), the value of the registration plate will be higher. This means that a match like 5IMON, for the name Simon, will be worth a lot more than a more obscure set of letters and numbers that are not as convincing a match, such as S17 MMM for the name Sam.
The style of the plate: this means establishing if it is a new-style plate, an older-style format or if it is dateless or Irish, for instance. Other options are that it is a prefix-style plate or a suffix-style plate. New-style number plates, which have been produced since 2001, tend to be the least valuable because they are a bit less appealing to some collectors, plus the rule about not having plates that are newer than your car can also come into play, putting people off from buying a newer-style plate for their older car. Prefix-style number plates, which were in production between 1983 and 2001 can be more popular as more vehicles are entitled to have those licence numbers, and they may have fewer characters in total. Suffix-style plates, issued from 1963 to 1983 are relatively rare, which means they can attract higher prices than prefix-style plates and newer designs. Dateless number plates, also known as cherished number plates, were produced between 1903 and 1963 and are nearly always the most valuable number plate configurations; they have fewer digits and their dateless nature means that people can hide the age of their car. Irish number plates are similar to dateless number plates, especially because they don’t have a year identifier. They also tend to be cheaper than other types of vehicle registration plates.
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