Is the market for premium license plates about to boom again?

Is the market for premium license plates about to boom again?

There was a time when premium registration plates, such as single letter or single number variants, fetched in excess of NZ$600,000. But they’ve fallen out of favour recently. Any market goes through its phases, whether its property, artwork or vintage guitars, and the personalised plates market hasn’t exactly been super buoyant over the last few years.

This might be about to change with the news that the director of Project Kahn in the UK, Afzal Kahn, has just paid UKP440,000 for the plate F1 in the UK. That’s NZD1.123 million, the most we’ve heard of. Though, A1 will be up for sale sometime this year and perhaps will fetch more, being the first plate issued.

The rules are different for license plates in the UK – you can’t just make up your own like you can in New Zealand, and you can’t use a plate that’s newer than the car. Plates in the UK signify year and area of registration, so are not very flexible. This adds to the rarity value, and that’s perhaps why the price was so high.

There was a time when premium registration plates, such as single letter or single number variants, fetched in excess of NZ$600,000. But they’ve fallen out of favour recently. Any market goes through its phases, whether its property, artwork or vintage guitars, and the personalised plates market hasn’t exactly been super buoyant over the last few years.

This might be about to change with the news that the director of Project Kahn in the UK, Afzal Kahn, has just paid UKP440,000 for the plate F1 in the UK. That’s NZD1.123 million, the most we’ve heard of. Though, A1 will be up for sale sometime this year and perhaps will fetch more, being the first plate issued.

The rules are different for license plates in the UK – you can’t just make up your own like you can in New Zealand, and you can’t use a plate that’s newer than the car. Plates in the UK signify year and area of registration, so are not very flexible. This adds to the rarity value, and that’s perhaps why the price was so high.

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