Number Plates Up For Auction In Dubai
Dubai: U66, Z777 and M2222 will be among 80 unique number plates up for grabs at the Roads and Transport Authority’s (RTA) 94th open auction on March 11.
Registration for the year’s first auction, which will be held at Emirates Towers’ Godolphin Ballroom, will open from March 4.
The last two auctions of last year generated huge interests with single digit plate D5 going for Dh33 million in October, while the plate number Q2 on offer in December went unsold despite massive expectations.
“The recent open auctions saw huge footfall from various community segments. This has promoted us to offer another chance for the public to engage in positive bidding for their fancied numbers in various codes,” Sultan Al Marzouqi, Director of Vehicle Licensing at RTA.
The numbers on offer range from two and three digits to four and five digits, including S90000 and U66.
During the auction, plate N572 will be on offer through a draw for the participants.
“Interested bidders can register in RTA’s Customers Happiness Centres at Umm Al Romool, Deira and Al Barsha. They can also register through RTA’s website (www.rta.ae), or Drivers and Vehicles app, and each participant is required to have a traffic file in Dubai,” said Al Marzouqi.
Registration for the auction will remain open until the day of the auction, and bidding will start at 4.30pm.
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.
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