Millions Of Pounds Spent On Personalised Reg Plates
Business partners Adel Abdul Aziz Al Matrooshi and Khalid Salmeen spent around Dh4.5m to buy several fancy plates during the 95th Open Auction of the Roads and Transport Authority (RTA) at Grand Hyatt Hotel on Saturday. They were also happy to take home the second most expensive plate 'H33' which they bought for Dh2.82m.
Aside from the 'H33', the duo also won the bidding war to grab K8888 (bought for Dh670,000); O120 (Dh350,0000); R3030 (Dh130,000); P7700 (Dh116,000); K8800 (Dh84,000) and a few more special plates. As we go to press, the auction is still going on and the two are aiming to buy more plates with triple, quadruple and quintet numbers.
"We are going to sell these special plates, We have been trading fancy plates for 14 years and it's a good business," he added.
It was, however, "family legacy and heirloom" value that moved Emirati Rashid Ahmad to buy a special plate for Dh290,000.
He said he spent around Dh800,000 in the previous auction and although it was very tempting to re-sell a special plate he bought last year, he opted to keep it as a "family legacy."
"Special plates are not just fashionable, it's an investment like gold which will fetch you really good money," Ahmad explained.
"At the last auction, I bought a three-digit code for Dh325,000 and after a few months, someone offered me to buy it for Dh370,000 but I did not sell it. The money I spent is for charity and the special plate is a good bragging right," Ahmad underlined.
Meanwhile, the winner of the most expensive R13 which fetched a price of Dh2.92m declined to be interviewed. He carried the auction ID number 410.
Sultan Al-Marzooki, director of Vehicles Licensing at RTA's Licensing Agency, said, "The RTA's auction has witnessed a huge footfall from various community segments as they contribute immensely to realising our strategic goal of bringing happiness to people. The auction is part of RTA's third strategic goal which is "people happiness."
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.
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