Dubai Reg Plates Auction Selling Prices
Reg Plates ArticleDubai Reg Plates Auction Selling Prices
Dubai’s Roads and Transport Authority (RTA) has raised Dhs27.75m by selling 80 car number plates at an auction on Saturday.
The RTA’s 95th licencing open plates auction saw four licence plates receiving the highest bid amounts, Dubai Media Office said in a statement.
Number plate R13 fetched the highest bid of Dhs2.92m, while number plate H33 was sold for Dhs2.82m. The third highest bid was received for licence number O69 at Dhs1.68m, while S66666 was sold for Dhs680,000.
The auction saw “fierce competition between bidders hailing from the all community segments”, a statement said.
Ahmed Bahrozyan, CEO of RTA’s Licensing Agency, said: “The Dhs27.751m revenue raised from the 95th Open Auction reflects the remarkable popularity of such commercial activity organised by RTA.
“The number 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,” he added.
The auction of exclusive number plates garners strong interest in the UAE.
In October last year, a Dubai-based Indian businessman bought the D5 number plate for Dhs33m in what was described as the biggest auction in the Roads and Transport Authority’s history.
Balwinder Sahani, owner of property management firm RSG International, beat competition from other VIPs to secure the plate after paying Dhs25m for the number O9 last year.
However, in November, an Emirati businessman who bought the car plate Number 1 for Dhs31m at an auction in Abu Dhabi was charged with fraud after his cheque bounced.
The Abu Dhabi Public Prosecution charged the man with fraud and sentenced him to seven days in custody.
So how do you ensure you get one that rises in value rather than one that remains static? The trick is to buy something that other people are likely to want. Number plates that show a person’s name or initials are a good example, providing they are not unusual names or initials. Having something that is unusual will not prevent the number plate from rising in value, but it may be more difficult as it will be harder to find a buyer whom the number plate is relevant to and who wants to pay for it.
Next, have a look at what is currently for sale that matches that name or initials. If there are not many or if the one you have is considerably better, you will have a greater chance of the investment rising in value. If, on the other hand, there are lots of other options for people with that name or initials, you may find it harder to sell the one you own.
Other things that can prevent you from getting a high price for a number plate include:
- Number plates that are hard to understand – If people can’t tell what the number plate means after a few seconds of looking at it, you might struggle to get a high price for it.
- Humorous number plates – These types of plates are very niche, so the market for them is smaller than for standard phrases.
- Made up or unique words – There may not be anyone else who wants a number plate with a very unusual word.
- 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
