13.4 C
Manchester
Wednesday, July 24, 2024
AutomotiveCar Specialist Urges Drivers to Assess the Value of Their Private Registration...

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

An automotive expert is advising drivers who own private registration plates to evaluate their worth in light of a recent auction sale that reached a staggering £73,000.

According to auction data from the DVLA, a number plate bearing the inscription “5 PS” was sold for an astounding £73,010 on Wednesday, May 17.

Comparable plates fetched significantly lower prices back in the 1990s. For instance, the registration “4 PS” was sold for £5,100 in April 1993, while “6 PS” changed hands for £5,800 in July of the same year.

Jon Kirkbright, the sales director at PlateHunter, emphasizes that the disparity in these figures demonstrates the potential profitability of investing in private registration plates.

The expert remarked, “I always assert that private number plates should ideally double in value every three to five years. Purchasing a private plate is an exceptional investment, as their value often appreciates over time.”

“5 PS is a prime example of this phenomenon. It was auctioned by the DVLA for an impressive £73,010 this month, whereas ‘6 PS’ sold for £5,800 in July 1993.”

“This suggests that other similar number plates, previously sold at a fraction of their current value, could fetch the same or a comparable price.”

“Without such comparisons, many customers may be unaware of the substantial value their plates have gained since their purchase several decades ago.”

“People frequently seek proof of increased value and a sound investment, and this situation provides just that.”

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 proudly holds the distinction of being the United Kingdom’s most affordable number plate supplier, offering a selection of over 56 million personalised number plates for sale, starting from just £25 plus VAT and the transfer fee.

Additionally, the company provides a hassle-free online service for free registration valuation.

Mr Kirkbright urges individuals with private registration plates to inquire about their current value, stating, “We receive 250 valuation requests every day. We thoroughly assess them and provide the customer with the price we would offer to stock it, as well as the price they should expect if sold retail.”

Data indicates that shorter number plates are in high demand at auctions and yield greater returns. Just earlier this month, a plate displaying “82 O” was auctioned for an impressive £70,000.

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

When purchasing private number plates, individuals often do so for personal or practical reasons. Drivers are likely to seek plates that resemble names, initials, or words that hold special meaning for them, along with numbers that correspond to significant events like birthdays.

Mr Kirkbright added, “Our niche 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.”

“Some wish to conceal the age of their vehicle, while others have experienced plate cloning, resulting in numerous parking tickets or speeding fines.”

“With 11 years of experience in the industry, we stand out from the competition through our exceptional service. We boast positive reviews and maintain a down-to-earth and highly skilled team.”

For more information or assistance with the purchase or sale of a private number plate, please visit PlateHunter. Alternatively, you can follow and contact them on Instagram, Twitter, or Facebook.

Sam Allcock
Sam Allcock
With over 20 years of experience in the field SEO and digital marketing, Sam Allcock is a highly regarded entrepreneur. 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.
Latest
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

More News