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Friday, June 14, 2024

Car Expert Urges Drivers to Assess the Value of Their Private Registration Plates Following £73k Auction Sale

In the wake of a recent £73,010 auction sale of a registration plate bearing the characters “5 PS,” a renowned car expert is advising drivers who possess private registration plates to evaluate their value.

According to data from the DVLA auction, this particular number plate fetched a staggering sum on Wednesday, May 17th. Interestingly, similar plates were sold for significantly lower amounts during the 1990s. For instance, the registration plate “4 PS” was sold for £5,100 in April 1993, while “6 PS” fetched £5,800 in July of the same year.

Jon Kirkbright, the sales director at PlateHunter, highlights the notable contrast in these figures, underscoring the potentially lucrative investment opportunity associated with purchasing private registration plates.

Kirkbright explains, “I always emphasize that private number plates should ideally double in value every three to five years. Investing in a private plate is an excellent opportunity as they often appreciate in value.”

The sale of “5 PS” for £73,010 by the DVLA this month serves as proof of this concept. By comparison, “6 PS” was sold for £5,800 in July 1993.

“This suggests that similar number plates, previously sold for a fraction of their current price, could potentially command the same or similar sums,” Kirkbright notes.

He further adds, “Without these kinds of comparisons, many customers may not realize the significant value of their plates, having purchased them for much lower prices decades ago.”

“People are constantly seeking evidence of increased value and sound investments, and this is a prime example.”

The table below presents the registration plates, their auction prices, and the corresponding dates:

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 prides itself as the United Kingdom’s most affordable number plate supplier, offering a wide selection of over 56 million personalised number plates for sale, with prices starting from £25 plus VAT and transfer fees.

The company also provides a hassle-free online service for free registration valuation. Individuals with private registration plates are encouraged by Mr. Kirkbright to inquire about their current worth.

He adds, “We receive 250 valuation requests daily. We thoroughly review each request and provide customers with the price we would offer if we were to stock it, as well as the retail price they should expect.”

Data suggests that shorter number plates tend to command higher demand at auctions and yield greater returns. Earlier this month, a plate reading “82 O” was auctioned and fetched an impressive £70,000.

Other plates sold at the auction included “41 0VE,” which sold for £37,510, and a plate displaying “180 Y,” which was sold for £37,060.

When individuals consider purchasing private number plates, they often do so for personal or practical reasons. Drivers frequently seek plates that resemble their names, initials, or meaningful words, along with numbers associated with significant events such as birthdays.

Mr. Kirkbright further emphasizes, “Our speciality lies in offering the most affordable number plates in the country, with prices starting at £25. People have various motivations for acquiring private number plates.”

He continues, “Some individuals wish to conceal their vehicle’s age, while others have experienced plate cloning and continually receive parking tickets or speeding fines.”

“With 11 years of experience in the industry, our service sets us apart from others. We have received positive reviews and pride ourselves on being down-to-earth and highly knowledgeable.”

For additional 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.

Sam Allcock
Sam Allcockhttps://businesslancashire.co.uk/
Sam Allcock is a highly regarded digital entrepreneur with over 20 years’ experience in online marketing for some of the World’s biggest brands. He has extensive knowledge and experience in SEO and digital marketing. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
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