Every year in Britain, motorists spend thousands of pounds on number plates. Personalised number plates in particular have become big business with the DVLA raising millions of pounds on its annual auction. But believe it or not, there are people who are completely unaware that their number plates are very valuable. This stems from the lack of available public knowledge on how number plates work; most don’t even know if their plate is legal or not.
Still, the custom number plate industry has grown considerably over the years. Personalised number plates can cost a lot of money depending on the characters and the numbers on them. The top tier number plates with exclusive registrations have been known to cost their owners upwards of £500,000 with the combined cost of these special personalised plates standing at an estimated £100 million.
What’s the most expensive plate sold?
The most expensive number plate ever sold in the UK was “25 0” which went for £518,480 at auction. The second most expensive is the “F1” number plate owned by Afzal Khan who paid £440,000 for it at an auction in 2008.
Based on the two examples above, it is easy to conclude that number plates with fewer characters tend to be the most valuable. As such of the top ten most expensive number plates in the UK, 5 of them have had just two characters. They include the now world famous F 1, 1 0, M 1, 1 D and S 1.
Based on this premise, it is therefore safe to assume that your regular number plate is unlikely to be worth much. You may not be able to get the hundreds of thousands of pounds associated with rare plates, but your ordinary looking plate may actually be worth quite a bit.
If you are wondering how you can find out the value of your number plate you may be happy to note that the Guide to Value of Car Registrations in the UK has created a value calculator that can help you determine if your number plate is worth selling and how much you’d get for it. What we found out is that even the most ordinary looking number plate can be worth quite a lot. For example, number plates registered in 2010 may be worth upwards of £1,499.
Here’s a simple guide to help you get an idea of how much your Number plate may be worth;
- Single Letter Suffix Combinations like “A 247”- £1,799 – £600,000
- Single Letter Suffix Combinations like “4763 C”- £1,599- £500,000
- Double Letter Suffix Combinations like “VN 442” – £799- £200,000
- Double Letter Suffix Combinations like “6 WO” – £699 – £150,000
- Triple letter prefix combinations without the year letters like “BP S 2” – £699-£75,000
- Triple letter suffix combinations without the year latters like “4 JGM” – £499-£60,000
- Triple latter combinations with prefix year letters like “G4 ABC” – £199-£6,599
- Triple letter combinations with suffix year letters like “SUE 694R” – £199-£6,999
- New style number plates like “NA 51 USA” – £150-£4,999
The Guide to the Value of Car Registrations in the UK is the most comprehensive guide to help you find out the value of your number plate although it is not the only one. There are currently a lot of websites where you can enter your number plate and find out its value immediately and still many more that can buy your number plate from you.
But when it comes to selling your number plate, you may need to do just a little bit more research to zero in on the best way to sell your plate. While it may seem easier to sell it using one of those websites, it pays to know that there are very many other options. You can even choose to put your number plate on eBay and get to keep all the proceeds. Whatever you choose to do, you now have a complete guide to help you value your number plate; know exactly how much you can get out of it.
Keep in mind that the price of the number plate will go up depending on the perceived value of the plate. For example, you may have a number plate that spells someone’s name, a celebrity’s name, a particular profession or a popular phrase. These tend to be more expensive since they are more desirable and you’ll find you can set any asking price.
Now that you know how to value your number plate, good luck on finding a buyer.