Bahrain First Reg Plates Up For Sale By Auction
Bahrain to introduce private number plates for auction on the 08/04/2017
Manama, Ministry of Interior Undersecretary Shaikh Nasser bin Abdulrahman Al Khalifa, today announced that as part of the directives of Interior Minister Lt-General Shaikh Rashid bin Abdullah Al Khalifa, work is underway to introduced special new private vehicle number plates in the Kingdom’s first auction of registration plates.
He stressed that this step is in line with the Kingdom’s commitment to the principles of competitiveness, fairness and sustainability.
The first auction of number plates will be administered by a government company in which the revenues will be referred to the Ministry of Finance. Following the sale of vehicle number at the auction, the General Directorate of Traffic will issue a certificate of ownership to the buyer.
The Interior Ministry Undersecretary clarified that private vehicle number plate already in circulation will remain the property of their current owners, as all the numbers that will be auctioned are new. He said the new auction would provide a simple and accessible for any individual to acquire a private vehicle number plate.
The UK in particular has a relationship with personalised number plates. According to estimates by the DVLA (Driver and Vehicle Licensing Agency), the UK reported an excess of two billion pounds in tax revenue from tax auctions over the past 25 years. As they are keen to state, an expression of interest in a particular plate by three people or more is enough to push the price of that Reg plate through the roof. It has also been documented that the buyers let their hearts take control of their heads when they bid for these plates.
Personalised number plate auctions are constantly rewriting the record books with regard to the highest price paid for a plate. The record currently stands at £518,000 which is quite impressive. The prices of these Regplates does not seem to be slowing down either.
Of particular interest is the recent auction of the highly-hyped 250 C Reg plate which sold for £21,500. This is a clear indication that the expectations for the prices of personalised number plates will continue to increase.
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