Dubai Personalised Number Plate Auctions - Records Smashed Yet Again
Reg Plates ArticleDubai Personalised Number Plate Auctions - Records Smashed Yet Again
A unique personalised number plate recently sold for a record price of £12 million at an auction in Dubai. The number plate, with the registration code "P7," is now the most expensive number plate in the world.
The world of personalised number plates is fascinating and can be quite lucrative. People spend vast sums of money to acquire these special plates for a variety of reasons. Some factors that contribute to the value of a plate include:
Rarity and exclusivity: Shorter plates with fewer characters are generally more valuable, particularly single digits or letters. Certain combinations of letters and numbers may also be sought after, especially if they can be interpreted as initials, words, or dates.
Location: Some countries and regions place a higher value on personalized plates than others. For example, the United Arab Emirates (UAE) is particularly well-known for its expensive plates.
Vanity appeal: Some people are willing to pay a premium for a plate that reflects their name, initials, or another word or phrase that is important to them.
Investment potential: In some cases, personalized plates can be seen as an investment. The value of a rare or desirable plate may appreciate over time.
There are reputable companies that specialise in the sale of personalised license plates. Reg Plates.com is a market leader in the field. They have been in business for over 30 years and offer a variety of services, including buying and selling plates, handling transfers, and offering financing. If you are interested in learning more about personalised number plates, Reg Plates.com is a good resource.
Here are some other interesting facts about personalised number plates:
The very first personalised license plate was issued in New York in 1901. It read "1."
The most expensive personalised license plate ever sold was the number "1" in Abu Dhabi, which fetched a staggering $14.8 million in 2008.
In the United Kingdom, the DVLA (Driver and Vehicle Licensing Agency) holds auctions for personalised license plates several times a year. The most expensive plate ever sold at a DVLA auction was "25 O," which sold for £518,480 in 2014.
Obtaining a personalised license plate can be a great way to add a touch of personality to your car. However, it is important to remember that these plates can be expensive. Before you make a purchase, be sure to do your research and factor in the cost of the plate as well as any associated fees.
How popular any name or initial it contains is: You are more likely to get good money for a registration plate that spells out a name like 5UE than you are with a more unusual name, simply because there is more demand for Sue (or Dave or Mel) than there would be for Hector, Primrose or Zebedee
How valuable the letters and numbers the plate contains are: in terms of numbers, lower numbers with fewer digits tend to be the most valuable when reselling personalised number plates, making BOB 1 more valuable than BOB 379. Sequential numbers (123, 456 etc.) and repeated numbers (444, 88) are more popular than random combinations, and special occasion numbers like 18 and 21 can also boost a number plate’s value a little. In terms of the letters in a number plate, the likelihood of a series of letters being a name or a person’s initials increases the value of the plate, too.
- FREE TRANSFER SERVICE - your paperwork is handled by our trained team
- OVER 30 YEARS EXPERTISE - long established and trusted company
- DVLA RECOGNISED RESELLER - linked directly from the DVLA website
- TRADE ASSOCIATION MEMBERS - MIRAD and CN Guild members
