UAE: Dh55 Million For A Car Number Plate? Why They Cost So Much

Less is more‭ ‬-‭ ‬that's definitely true when it comes to car number plates in the UAE‭. ‬The fewer the digits‭, ‬the more expensive they are‭. ‬This could help explain why Dubai's‭ ‬'P7'‭ ‬car number plate set the record for the most expensive number plate in the world when it was auctioned for Dh55‭ ‬million in 2023‭. ‬This surpassed the previous record of Dh52.5‭ ‬million set by the 1‭ ‬number plate sold in Abu Dhabi‭.‬

Owning a personalised number plate could turn more heads than the car you drive‭. ‬And thankfully‭, ‬you don't need to spend millions to acquire one‭. ‬While single-digit number plates are the most expensive‭, ‬there are many double and triple-digit combinations that are priced lower‭. ‬Or‭, ‬you could go the other way and pick numbers that represent a significant date‭ ‬-‭ ‬such as the date you got married‭, ‬or the birth date of your children‭. ‬

The Roads and Transport Authority‭ (‬RTA‭) ‬in Dubai has just finished its latest auction of distinctive number plates consisting of‭ ‬three‭-, ‬four‭-, ‬and five-digit combinations for private vehicles‭, ‬classic vehicles‭, ‬and motorcycles‭. ‬This was the RTA's 79th online auction and included 350‭ ‬exclusive plates up for grabs‭. ‬Many of its auctions are organised to raise money for good‭ ‬causes‭, ‬such as the 1‭ ‬Billion Meals Endowment and the Fathers'‭ ‬Endowment Campaign‭.‬

The One Billion Meals Endowment campaign was launched under the global initiatives umbrella spearheaded by Sheikh Mohammed bin Rashid Al Maktoum‭, ‬Vice-President‭, ‬Prime Minister of the UAE and Ruler of Dubai‭, ‬with the aim of fighting global hunger‭. ‬One of the most memorable auctions saw Muhammad BinGhatti‭, ‬chairman of Binghatti Holding‭, ‬pay Dh35‭ ‬million for the DD5‭ ‬number plate‭, ‬which started with a bidding price of Dh15‭ ‬million‭.‬

While single-digit plates are the most exclusive‭, ‬repeating numbers‭ (‬like 111‭, ‬7777‭) ‬or patterns‭ (‬like 1234‭) ‬are also highly prized‭. ‬Personalised number plates are bought primarily as a status symbol‭, ‬much like an expensive watch‭. ‬But there are also those‭ ‬motorists who buy them as investments‭, ‬hoping their value will increase over time‭.‬

Manan Mistry‭, ‬who owns the company Create Me‭, ‬has bought four personalised number plates during his 19‭ ‬years in the UAE‭. ‬The 45-year-old paid around Dh4,000‭ ‬per plate‭, ‬which were put on various cars‭, ‬including a Hummer‭, ‬Chevy Camaro and Mustang‭.‬

Important numbers

“I just thought it would be cool to have what you wanted‭, ‬so I went ahead and bought personalised plates‭,‬”‭ ‬he said‭. ‬One of the number plates is similar to his phone number while another one is the date of his wedding anniversary‭. ‬Mistry plans to sell two of them as a pair‭, ‬but not the marriage date one as it is‭ ‬“priceless”‭. ‬“I also have L plates‭, ‬which people think is a limo company‭. ‬But at the time‭, ‬it was the letter‭,‬”‭ ‬he joked‭.‬

Jamie McGinlay‭, ‬49‭, ‬bought the number plates O 3275‭ ‬and P 3275‭ ‬about five years ago and paid Dh9,000‭ ‬for the pair‭. ‬“Originally‭, ‬one was on my wife's Porsche Cayenne‭, ‬but it's now on my Lotus Emira‭. ‬The other has always been on my Aston Martin‭. ‬I thought it would be a good way of making a little money‭ ‬on something a little fancy as I have always liked cars‭,‬”‭ ‬explained McGinlay‭, ‬who is the CEO of a defence contracting company and has lived in the UAE for 16‭ ‬years‭. ‬“I haven't ever sold them‭, ‬but I am aware that their value has increased massively‭.‬”

Back in 2017‭, ‬the RTA launched a campaign called‭ ‬“Your Memorable Moments on Your Vehicle's Plate”‭ ‬for U-coded plates‭. ‬It allowed buyers to choose five-digit plates bearing a code personalised to resemble important dates‭. ‬If I‭ ‬were to buy them for my two sons'‭ ‬birthdays‭, ‬the plates would look very similar‭ ‬–‭ ‬10107‭ ‬and 10710‭.‬

If you want a personalised number plate‭ (‬officially called Special Plate Numbers‭) ‬in Dubai‭, ‬you can buy one directly from the RTA‭, ‬participate in one of its online or physical auctions‭, ‬or from a second-hand marketplace‭. ‬The RTA offers customisation services‭, ‬allowing you to choose letters and numbers that hold personal significance‭, ‬as long as they haven't already been taken‭.‬

Regular number plates have single letters at the front‭, ‬with lower letters like A‭, ‬B‭, ‬and C normally meaning they are older‭. ‬Once you start seeing double letters‭ (‬like CC‭) ‬then you will know these are part of a special series or auction‭.‬

If you are taking part in an auction‭, ‬make sure you determine your budget before you start bidding‭. ‬Personalised plates can range in price from thousands to‭ ‬millions of dirhams‭, ‬so don't get carried away‭. ‬Having a hard ceiling on the price you are willing to pay will stop your emotions from taking over‭. ‬Auctions‭ ‬can be competitive‭, ‬especially for highly sought-after plates‭, ‬so think carefully before you enter a bidding war‭.‬

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