An expert in the automotive industry is advising drivers who possess private registration plates to evaluate their current value, especially in light of a recent auction sale that reached an astounding £73,000.
According to the latest data from the DVLA auction, a registration plate bearing the characters “5 PS” was successfully sold for the staggering amount of £73,010 on Wednesday, May 17.
Comparatively, similar plates were sold for significantly lower prices during the 1990s. For instance, the registration plate “4 PS” was purchased 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, emphasizes that the notable difference in these figures highlights the potentially lucrative nature of investing in private registration plates.
The expert explains, “I consistently advise that private number plates have the potential to double in value every three to five years. Investing in a private plate is an excellent financial opportunity since their value often appreciates over time.”
The recent sale of “5 PS” for £73,010 by the DVLA this month serves as compelling evidence of this phenomenon. In contrast, “6 PS” was sold for a mere £5,800 in July 1993.
This suggests that similar number plates, previously sold for a fraction of their current price, could potentially achieve similar or even higher valuations.
“Without comparing such instances, many customers may be unaware of the substantial increase in value their plates have experienced since their initial purchase several decades ago,” adds Kirkbright.
He further emphasizes that such evidence of increased value and sound investment choices can greatly influence potential buyers.
The following table showcases a few additional examples of registration plates, their auction prices, and the corresponding dates of sale:
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 takes pride in being the most affordable number plate supplier in the UK, offering over 56 million personalised plates for sale. Prices start as low as £25 plus VAT and transfer fees.
Furthermore, the company provides a convenient online service for free registration valuations, ensuring a hassle-free experience for interested individuals.
Mr. Kirkbright urges owners of private registration plates to inquire about their potential current worth.
He remarks, “We receive approximately 250 valuation requests daily. Our team carefully reviews each request and provides customers with the price we would offer for stock, as well as the expected retail price.”
Data indicates that shorter number plates are in higher demand during auctions and tend to yield higher returns. Earlier this month, a registration plate with the characters “82 O” was sold for a staggering £70,000.
Other plates sold at the auction included “41 0VE,” which fetched £37,510, and a plate displaying “180 Y,” which was sold for £37,060.
When it comes to purchasing private number plates, people often seek plates that resemble their names, initials, or meaningful words. Additionally, they may choose numbers that hold significance, such as birthdays or other special occasions.
Mr. Kirkbright adds, “Our unique selling point is offering the most affordable number plates in the country, starting at just £25. People have various reasons for desiring private number plates. Some wish to conceal the age of their vehicle, while others have encountered issues with cloned plates resulting in frequent parking tickets or speeding fines.”
PlateHunter boasts an impressive trading history of 11 years, standing out from the competition with its excellent customer reviews and down-to-earth, highly experienced team.
For more information or assistance in purchasing or selling a private number plate, please visit PlateHunter. Alternatively, you can connect with them on Instagram, Twitter, or Facebook.