You may well be aware that personal number plates can be quite expensive to purchase. However, it can’t be very often that a number plate sells for millions of pounds. Well that is exactly what has happened.
It will not come as a surprise to read that the world record sale price took place in Dubai. As you probably know, Dubai has many wealthy people living their with some people getting rich as they are involved in the oil industry in some capacity.
You may also be aware that there are a number of factors that effect how much a personal number plate is worth with one of those being the length of the personal number plate. As a general rule, the shorter the number plate i.e. a plate with very few characters the more expensive the number plate will cost you to buy,
Well, at a recent charity auction in Dubai supporting the One Billion Meals Campaign, the very short personal number plate P7 was sold for a world record 55 million dirham that equates to around £12 million. It breaks the previous world record that was set in 2008 when a number plate was sold for a staggering £11.4 million.
Apparently, at the recent charity auction at which the P7 number plate was sold, there were a number of bidders. Again, this is a factor that impacts upon how much can be achieved for an item at auction i.e. the more interest tends to increase the price.
It will be interesting to see just how long this world record holds for. Who knows, the time may come when a wealthy individual in the UK decides to bid for a personal number plate with the sale price exceeding £12 million.
We suspect that the most people usually pay for a personal number plate is in the region of several hundred pounds with some running into thousands of pounds.
