There has been a remarkable uptick in personalised number plates going on auction globally. According to Fin24 a businessman from India, Balwinder Sahani, paid R 125 million (33 million dirhams) for the Dubai number plate “D5”. This was one of the many number plates that went on auction in Dubai that day.
In the United Kingdom, the number plate K1NGS sold for £ 231 000 and RR1 sold for £ 75 000. Royalty and Rolls Royce number plate combinations have commanded high prices for their status and branding appeal.
On the first public auction of number plates in Dubai, the number plate “2” sold for an equivalent of R2.73m and the number plate “6” sold for R1.78m and “11” for R1.85m.
In 1989 in New Zealand, the single character number plate “1” sold at the first auction of its kind for $34 100 (NZ). In 1991 it was resold for $ 111 375 (NZ) and in 1995 it was resold again for a staggering $ 630 000 (NZ). The sale of the single character number plate “N” for $ 157 500 (NZ) in 1994 seems modest in comparison.
The world record price for a number plate sale was set in 1994 in Hong Kong with the sale of the number plate “8” for $1 million (US).
Closer to home, the number plate market in South Africa is in its infancy with number plates having been traded for over 40 years in Hong Kong, Australia, Dubai and the United Kingdom.
Since 2000 personalised number plates have been an essential motor vehicle accessory for the South African motoring public, with over 500 000 plates sold. These figures have exceeded even the most optimistic projections by the Department of Transport and have generated more than R500 million in revenue.
Stephan Welz & Co. has consign some of South Africa’s most expensive number plates for our upcoming in Johannesburg on 22 and 23 November 2016
These include the rarest and unique 8 single digit Gauteng number plates out of a possible 78 billion combinations of which have achieved impressive selling prices globally with the trend set to follow in South Africa.
1 – GP to 8 – GP is available with 9 – GP already purchased by Joost van der Westhuizen (his rugby jersey number). The price of SA’s most valuable plate (1- GP) is expected to fetch well over the R1m mark with SA’s top business elite, royalty, investors and even Government officials vying for one of these prize possessions.