Every year in the UK, drivers spend hundreds and thousands on the number plates. Private number plates have become a big part of the DVLA’s income. They have been raising millions each year in the annual auction.
But few people aren’t aware of how valuable their number plates are. So, how is that possible? Well, it shoots from the limited public awareness about how this private registration plates work.
You won’t believe, but some people aren’t even aware if their number plates meet the legal criteria! Over the years, the personalized plate’s demands have expanded a lot. These can be expensive depending on the numbers and characters appearing on it.
The top tier plates have exclusive registrations costing above £500,000. The combined cost of specially customized plates stand at £100 million.
What Is The Most Costly Number Ever Sold?
In the UK, the most costly number to have ever sold was 25 O. It was sold for £518,480 in an auction. It was closely followed by the F1 plate that was sold to an entrepreneur for £440,000 in 2008.
With both these examples in front, it is easy to see that only some characters have better value. Out of UK’s costly number plates, five of the top 10 had just two characters. These were F1, 1D, S1, 1O and M1.
You might assume your standard number plate won’t be of high worth. While you won’t earn thousands selling your plate, even an ordinary looking plate can be of more worth than you think.
How can you find the worth of your plate? Well, there is a calculator to help find the number plate worth. It will help you work out if you should sell the plate and the amount you would receive.
Surprisingly, ordinary looking plates way more than you think. For example, plates registered in 2010 can cost more than £1,499.
Keep in mind, the cost of your number plate can increase depending on the perceived value. So, if your plate spells out a profession, a name, etc, it will be more valuable.