Most Expensive License Plate Sells For $15 Million At Charity Auction
The buyer got the “P 7” plate.
How much would you pay for a license plate? That’s a question one person had to answer after bidding on and winning the plate “P 7” for $15 million. It seems like a lot of money because it is – this could be the most expensive one ever sold.
License plates are a hot commodity to some who want the perfect number paired with their vehicle. In 2022, someone paid $9.5 million for “AA 8.” However, it wasn’t the only one that sold for over seven figures at that auction, with “F 55,” “V 66,” and “Y 66” all finding new homes.
The Guinness World Records recognizes the “1” plate from 2008 as the most expensive one ever sold at auction, which went for $14.2 million. In 2021, someone paid $24.5 million for the California license plate “MM,” which also included a non-fungible token to please the crypto supporters.
California is also a state that also requires a front plate, but wrapped license plates were made legal in 2022, giving owners some new-found freedom. A few months after that, the state also approved digital license plates for all cars. The state began allowing some vehicles to have the digital plate as far back as 2018, with the tech providing more than just the number. The tech can connect to a car and help with location, security services, and more.
It’s All In The Numbers:
The auction for the “P 7” plate took place in Dubai on Saturday. Proceeds from the auction went to a food aid charity led by the Dubai ruler Sheikh Mohammed bin Rashid. Dubai is a city for the rich, and people like to show off their status, and a special number plate is one way to do just that.
Numbers play a huge role not only in our lives but in our cultures as well. Coveted license numbers and vanity plates will also command interest as cars are a form of personal expression. People are willing to pay seven or more figures for a registration number, which makes a vehicle all the more recognizable, for better and worse.
Sources: Business Insider, Emirates Auction
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