Is Your Reg Plate Worth More Than Your Car

When you can afford every new supercar in the world, the only thing that will set you above the rest of your equals is the numberplate – and in Dubai that means shelling out millions.

Due to an enormous increase in demand, Dubai's Roads and Transport Authority (RTA) has begun hosting auctions where businessmen compete to adorn their luxury supercars with a much-prized "vanity plate".

The auctions opened in Dubai last week, and in the last three public openings alone the RTA has raised a jaw-dropping $50.3 million dollars.

The most expensive plate ever auctioned off – which simply reads "No 1" – was sold to Emirati businessman Saeed Abdul Ghafar Al Khouri for a staggering $18.6 million in 2008.

Other big buys include "D5", which was purchased for $11.7 million by property developer Balwinder Sahni, and "No 5", which was picked up for a cool $8.9 million by 25-year-old prince Talal Ali Mohammad Khouri.

Single numbers and letters often go for the highest prices, with many bidders keen to secure a plate that's instantly distinctive – a feat that's easier said than done in a city that boasts more than 26,000 millionaires, and where supercars are regularly left to collect dust.

To put these figures in comparison, the average Aussie wishing to bolt custom plates to their car is slugged $448 a year, a fee high enough to put most motorists off even considering it.

But for a certain sect of Dubai-based billionaires, the ownership of a unique numberplate is more than simply having a nice-looking car – it's about showing others that you're richer than them.

Bidders at the RTA auctions will frequently get into heated bidding wars, often raising the price of the number plate far above any vehicle they could hope to put it on.

According to Sultan Al Marzouqi, director of vehicle licensing at the RTA, the auctions aren't just a way for Dubai's businessman to flash their cash – they're also a valuable source of income for the government department.

"Auctions help generate revenue for RTA's never ending infrastructure projects," Al Marzouqi told the Khaleej Times.

"Lots of people buy those numbers for trading or investment purposes, or they are regarded as a statement of individuality - of being unique and special."

Some bidders say that these ultra-expensive plates have special meaning – for instance, Balwinder Sahini says he fought so hard for the coveted "D5" plate because it's his "lucky number".

For others, it’s simply a good investment because while you cannot guarantee the plate will hold its worth, you can guarantee that it will hold its exclusivity.

"It is a good investment I am making and I advise others to put their money in unique numberplates," said entrepreneur Waleed Abdul Khader, after dropping a cool $1.3 million on the plate "018".

So what are the top selling number plates in the UK? The DVLA has been selling private plates to UK motorists since 1989. During this time, there have been a number of records set, but most of the top 10 have been bought in the past 15 years. Here’s what currently makes the list:

25 0 – A Ferrari dealer bought this for £518k in 2014. It is now on a £10 million Ferrari 250 SWB.
F 1 – A businessman, Afzal Khan, bought this for £440k in 2008 and put it on his McLaren-Mercedes SLR.
S 1 – This was bought in 2008 for £404k by an anonymous buyer.
1 D – Businessman Nabil Bishara bought this plate in 2009 (before One Direction was formed, so it is not a reference to the band) for £352k.
M 1 – Businessman Mike McCoomb bought this number plate in 2006 for £331k, apparently for his son, who was 10 at the time.
VIP 1 – Chelsea owner and businessman Roman Abramovich bought this plate for £285k in 2006.
51 NGH – This number plate, which looks like the surname Singh, was sold in 2006 for £254k.
1 RH – Businessman Robert Haverson bought this in 2006 for £247k.
K1 NGS – This reg plate, which looks like the word “kings”, was bought anonymously in 1993 for £231k.
1 0 – This very simple but striking number plate was bought anonymously in 2009 for £170k.

These are large amounts of money, but they are all small compared to the top-selling number plates found in other parts of the world. Abu Dhabi, in the UAE, has the record for the most expensive number plate ever sold. That number plate was a simple “1”. It was bought in 2008 by businessman Saeed Abdul Ghaffar Khouri for £7.25 million.

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