An expert in the automotive industry is urging drivers who own personalised number plates to assess their current value, especially in light of a recent auction sale that reached a staggering £73,010.
According to the auction data from DVLA, a registration plate displaying “5 PS” was sold on Wednesday (May 17) for the eye-catching price mentioned above.
Interestingly, similar plates were sold for significantly lower amounts back in the 1990s. For instance, the registration “4 PS” fetched £5,100 in April 1993, while “6 PS” was sold for £5,800 in July of the same year.
Jon Kirkbright, the sales director at PlateHunter, emphasizes that these contrasting figures highlight the potential for private registration plates to be highly profitable investments.
Kirkbright explains, “I always emphasize that private number plates should typically double in value every three to five years. Investing in a private plate can prove to be a truly lucrative opportunity as they often appreciate in value.”
The recent auction sale of “5 PS” for £73,010 by the DVLA this month serves as concrete evidence of this potential. In comparison, “6 PS” was sold for a mere £5,800 in July 1993.
“This indicates that similar number plates that were previously sold for a fraction of their current value could potentially sell for the same or even higher prices,” Kirkbright adds.
“Without such comparisons, many customers may not realize the substantial increase in the value of their plates after purchasing them for significantly lower prices several decades ago.”
“Many individuals are constantly seeking evidence of increased value and sound investment opportunities, and this serves as a perfect example.”
Below is a table displaying the registration, auction price, and date of various plates:
Registration | Price (Auction) | Date
1 PS | £22,000 | January 1995
2 PS | £5,600 | October 1993
3 PS | £6,000 | January 1993
4 PS | £5,100 | April 1993
5 PS | £73,010 | May 2023
6 PS | £5,800 | July 1993
7 PS | £5,750 | November 1993
8 PS | £6,200 | March 1994
9 PS | £4,200 | June 1994
10 PS | £13,000 | September 1991
PlateHunter takes pride in being the UK’s most affordable number plate supplier, offering a vast selection of over 56 million personalised number plates for sale, starting from £25 plus VAT and transfer fees.
The company also provides a hassle-free online registration valuation service free of charge.
Mr. Kirkbright encourages owners of private registration plates to inquire about their current value.
He further states, “We receive 250 valuation requests daily. We carefully assess them and provide customers with the price we would offer if we were to stock the plate, as well as the expected retail price.”
Data indicates that shorter number plates have a higher demand at auctions and tend to yield greater returns. Just earlier this month, a plate with the registration “82 O” was sold at auction for an impressive £70,000.
Additional plates sold at the auction include “41 0VE,” which fetched £37,510, and a plate displaying “180 Y,” sold for £37,060.
When purchasing private number plates, individuals often seek plates that resemble their names, initials, or words that hold personal significance. Furthermore, they may look for numbers that coincide with special events, such as birthdays.
Mr. Kirkbright concludes, “Our unique selling proposition lies in offering the most affordable number plates in the country, with prices starting at £25. People have various reasons for acquiring private number plates.”
“Some want to conceal their vehicle’s age, while others have experienced plate cloning, leading to parking tickets or speeding fines.”
“With 11 years of experience in the field, our excellent reviews and down-to-earth approach set us apart from the competition.”
For more information or assistance in purchasing or selling a private number plate, please visit PlateHunter. Alternatively, you can follow and contact them on Instagram, Twitter, or Facebook.
