Saturday, February 27, 2010

License plate for USD$4.6m anyone?



Taken from arabnews.com

The third most expensive license plate in the world was sold in Abu Dhabi on Saturday, cementing the UAE as a vanity-plate record holder. A plate bearing solely the digit ‘7’ was sold for 17 million dirhams, or $4.6 million, in a government auction on Saturday.

According to the Guinness Book of Records, the most expensive plate ‘1’, was sold to Emirati businessman Said Khouri in 2008 for a staggering 52.2 million dirhams, or the equivalent of $14.2 million.

The second most expensive plate, ‘5’ was also sold in Abu Dhabi for 25.2 million dirhams, or $6.86 million, during a special number-plate auction organized by the Emirates Auction Company in 2007. In total, 72 specialized plates were sold on Saturday for a total of 50 million dirhams.

As number plates in the UAE come by default with five digits, the fewer digits on the plate, the higher the price. A number plate with four digits can cost around 5,000 dirhams, ($1,300) but prices are pushed up for numbers that are memorable, in sequence (‘4567’) or all identical (‘4444’).

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