Most people own a car. But most people do not own an exclusive car number plate. We are talking about the type of number plates to make people walk past your vehicle on the street and have to take another look. It is one thing to have a nice car, but to have an exclusive number plate too, that is the cherry on top.
Why is Britain obsessed with exclusive number plates?
The Driver and Vehicle Licensing Agency (DVLA) hold six or more auctions a year where the most exclusive car number plates are sold off to willing buyers. We are probably going to use this word quite a lot, but the exclusivity of these number plates is what makes them truly valuable. Like everything, clothes, jewellery and number plates too; people just want something which nobody else has. Nothing stays more true of that statement than with car number plates. Having an unusual registration number that nobody else could possibly own is a huge status symbol.
What is the price of a personalised number plate?
Privately bought and traded number plates are extremely difficult to put a price on. A very basic private registration plate may only set you back £80. However, if you wanted to opt for a unique number plate, like one with three or four characters, this is likely to cost a lot more money due to buyer demand. Exclusive number plates can even cost as much as £500,000.
Is a number plate a good investment piece?
In order to make your number plate a good investment, it must have characters that are significant or humorous to many people. Sometimes individuals go down the route of choosing a registration number that has the same initials as themselves, however, chances are only a handful of other people may have the same initials. If you do decide that you want to sell a number plate like this after a few years, it could limit your chances of finding a buyer who wants to invest. A good tip if you do want to invest in a registration plate with your initials or name in it, use your first name, or last name if it is not rare. Number plates with names like Harry, Olivia and James in it will always sell quicker because more people will have the same name.
Are there any risks involved with buying an exclusive car number plate?
Unlike your car, an exclusive number plate may actually increase in value as the years go on. However, investing in a unique registration is like investing in anything else, whether that be stocks and shares, or a new handbag. The price of these items can fluctuate. Sometimes they can boom, and sometimes they may not do as well. Unfortunately, that is one of the risks with any investment.
Another thing to be aware of is that buying an exclusive number plate is unlikely to make you money overnight. In fact, it could take a few years to gain profit. A good idea may be to use the plate for a couple of years, then sell it once it has started to gain profit.
A list of the top 5 most expensive number plates in the UK
Exclusive car registration plates are not just a phenomenon in the UK, they are pretty popular all over the world too. Every year huge amounts of money are spent in a bid to have the rarest number plate displayed on their car. So, what is the most expensive car number plate which has been sold in the UK?
In first place comes the numeric registration 250. This plate was bought at an auction for a whopping £518,000 by a Ferrari trader. The registration was placed on his rare Ferrari 250 SWB – you can probably guess why he purchased that plate now. Since then, the DVLA has not sold a more expensive number plate than this one.
In second place comes F1. This plate is obviously associated with motorsport and is extremely recognisable wherever you go in the world. The F1 registration number was sold for a huge £440,000 by business entrepreneur Afzal Khan. Since then, it has been rumoured that Khan rejected a six million pound offer for the plate.
In third place is the first-ever number plate to be issued in Scotland. But, in 2008 the S1 plate was purchased by an anonymous buyer to be placed on a Skoda. The buyer paid around £397,000 for the plate, which would ultimately make it worth more money than their car.
On our list, the plate 1D comes in fourth place. Interestingly, you may have thought this specific plate would have been purchased by a member of the X-Factor boyband One Direction. This was not the case. Instead of being bought by Harry Styles or Zayn Malik, the plate was a gift from Nabil Bishara to his wife in 2009. He bought 1D for £352,000 but it is likely the plate will be worth a lot more than that now, due to the fame of One Direction.
M1 may be a motorway in the UK, but it may also be your initials. That is if your name is Mike McComb, the multi-millionaire who purchased the M1 plate for his son’s 16th birthday. Not a bad birthday gift.
How do I go about selling my personalised number plate?
An exclusive registration plate can do more than just upgrade your car. It offers something which a new paint job or even a new car cannot. A personalised car number plate offers its buyer something which nobody else has. A completely unique addition to your motor.
This year Love Luxury are expanding their business to include exclusive car number plates. If you have a car number plate you think we would like, then feel free to give us a call on 020 3888 8898, or book an appointment with our friendly team.