There are many things we can spend our money on, and the best kind of investment are the ones that make more money. Private number plates have soared in popularity over the last decade, and due to scarcity of plates available, they can rack up significant prices overtime. To learn about this fantastic investment opportunity, keep reading.
How Expensive Can Private Number Plates Get?
Private number plate commonly reaches 6 figures at auction, or the very least, high 5 figures. The most expensive plate bought at auction was “25 O,” which was sold to a man with a Ferrari 25 O owner. He paid almost 1 million euros for it, and the buyer, John Collins, said he would have paid more if it got to that point.
“It is the ultimate plate for the ultimate car.” John Collins said, “I could have bought a really good Ferrari for the money, but I decided I really wanted the plate, and I wasn’t going to stop bidding on it.” The “25 O” plate sold for almost 1 million because of the scarcity of the plate, and the relevance to the buyer.
Other plates that did well in auctions are “1 D,” “S 5,” “KRI5 HNA,” and “250 L.” All of these private number plates sold for around a quarter of a million pounds. By now, you probably see a pattern. The most expensive plates that have sold at auctions have something to do with cars or a person’s name.
Where do I Get Private Number Plates?
Various websites sell or trade private number plates. Absolute Reg is an open marketplace where people can shop and bid for license plates, some of these range from common to exceptionally rare. Similar to investing in stocks or real estate, you need to stay ahead of the market. There isn’t any guarantee on what will become popular, remain popular, or double in value. Still, there are a few things you can look for when investing in a number plate.
What Dictates Price?
Three main things dictate the price of a private number plate. Even if all of the below criteria are met, it doesn’t necessarily mean your number plate will have value – but it is more likely.
- Competition: Rarity of a plate is designated by the amount there are, and whether or not someone is willing to pay for it. For example, a common letter of someone’s name like a vowel or anything with the number 1 in it is widely sought after. The longer you hold onto a valuable plate, the more someone is willing to pay for it.
- Exclusivity: We touched on it briefly in competition, because the exclusivity of the plate will raise the value of the plate itself. The rarity of a plate can be different based on location and the year you’re looking to sell it.
- Visual Impact: Something that closely resembles a word, a song, a location, or the model of the car the person is driving – the more money you’ll make from it. Names are trendy, especially Middle Eastern names and female names. Females are more likely to purchase private number plates, and the Middle East is fond of customized plates. Overall, research will be your best friend.