The Most Expensive Number Plates
For the majority of people the vehicle registration plate simply represents a legislative requirement to own and drive a vehicle, however for some people having a personalised number plate is the icing on the cake for their vehicle, it provides a real sense of individuality and unique identity to their prized possession. For those who do wish to go down the route of a personalised plate it's not always easy finding something unique when the options continue to shrink as more people opt to choose, furthermore they can be very very expensive!
Why are some people willing to pay thousands of pounds for a personalised registration number and how is the value of each personalised plate calculated?
In principle it comes down to popularity, the higher the % of people who want it the higher the price can be. For example with initials, the number of people who have those particular initials dictates the potential demand and that can make some "initials" plates fairly valuable. When it comes to names and words, the value is calculated by a combination of potential demand and the quality of the number from a visual point of view. For example a single digit number plate will have an exclusive and prestige air to it giving it a much higher value than 2 digit numbers and so on with the more digits. So if you are looking for your initials or you have a short name like me you might want to think about getting creative!
Some people see them as an investment opportunity which is certainly possible as the options decrease the price of the more attractive plates will increase. Some companies see personal plates as a marketing opportunity and are able to brand their fleets with the business name and numbers for a similar to price to signwriting a vehicle.
What are the most expensive personal plates around?
The DVLA auction figures reveal the UK’s most expensive private number plates
25 O paid circa £518,000
This plate was bought at auction by a Ferrari Trader. It was placed on his Ferrari 250 SWB previously owned by Eric Clapton. To date, this is the most expensive plate that has ever been sold by the DVLA and by quite a significant margin.
F1 paid circa £440,000
A letter-number combination widely recognised for its connection to the racing sport Formula 1. This was actually snapped up by entrepreneur Afzal Khan who has apparently since turned down an offer of £6million for the plate!
S1 paid circa £397,500
This was the first ever number plate to be issued in Scotland originally owned by Sir John HA MacDonald. In 2008 it was bought by an anonymous buyer to be put on a Skoda.
1D paid circa £352,000
Nabil Bishara got hold of this in 2009 to be put on his wife’s Bentley. Now that boyband 1Direction have the coin to grab this if it goes up for sale it could go for a lot more!
MI paid circa £330,000
The self-made multi-millionaire Mike McComb purchased this plate in 2006, supposedly for his son’s 6th birthday. At 6 years old I'm sure a push bike would of been suitable enough!
The average price paid for a personalised number plate at one of the DVLA’s auctions is £877, however its live auctions have an average purchase price of a massive £3,225!
If you are looking into putting a cherished plate on your lease vehicle be sure to check out our guide on putting a private plate on your lease vehicle
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