Dubai exclusive number plate auction

Wealthy car fans got into a bidding war for the plate number 488 – likely to go with the new Ferrari 488

Fancy car plate numbers fetched a whopping Dhs21.4 million at an auction at the Dubai International Motor Show – with bidders thrilled to walk away with what they called ‘cheaper deals’ than usual.

The 89th Dubai Distinctive Number Plates Public Auction by the Roads and Transport Authority (RTA) took place on Saturday evening, with buyers battling to acquire the most coveted metal strips for their cars. Of the 105 plates to go under the hammer, two-digit number ‘Q41’ procured the highest sale – at Dhs1.76 million – followed by Dhs1.19 million for ‘Q55555’.

The winner of the Q41 plate, who did not want to be named, told 7DAYS: “I wanted it because I have another plate with the same number but different code. So I had decided I was going to get it no matter what. I will put this one on my S Class Mercedes.”

Meanwhile, Hassan, who forked out Dhs300,000 to buy plate ‘N2000’ to display on his Rolls Royce, believes his purchase is a “good investment”.

“I feel very happy [that I got it],” he told 7DAYS after securing the bid. It’s the same as buying gold or property. I have more than 1,000 numbers. It is my business, I sell them and make a profit.”

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The collector added that the prices at the auction were “very good”. “For example, ‘786’ has previously been sold for more than Dhs1 million. But today it went for only Dhs730,000. This was a very cheap price,” he said.

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Nasir Huwair agreed that the three-digit plate – coveted by many Indians and Emiratis for its religious significance – sold for much less than expected. The Arabic letters of the opening phrase of the Quran “Bismillah ir-Rahman ir-Rahim” (In the name of Allah, the most Merciful, the most Beneficient) sum up to the numerical value 786.

Some Hindu followers believe the number 786 is ‘Om’. “I have seen this number [786] sell for Dhs1.15 million at another auction – it was bought by an Indian man for his daughter I think,” Huwair said.

The bidder added that he had expected ‘Q41’ to sell for more than Dhs2 million – but called any plate purchase, regardless of price, a “smart investment”.

He explained: “There is huge resale value. “If you bought a car for say 150,000 and then you bought a plate for 200,000 – after two years, the car will be how much? Half the price maybe. But that number will be double, or at the worst the same price. Most of the time it’s up by minimum 10 per cent. I remember my father bought a Land Cruiser in 2001 for Dhs160,000. In those days a three-digit plate was around Dhs35,000.

“After 12 years, he sold that car for maybe Dhs55,000. But the [plate] number is worth Dhs222,000. It’s like if he sells his number, the Land Cruiser is free.”

What’s in a number plate? A lot, it seems. It’s more than just a piece of metal with a number on it. It’s a status symbol, and more importantly, an investment, auction-goers told 7DAYS.

The RTA’s sales pitch at the auction

One bidder, who spent more than Dhs500,000 at the event, explained: “It’s a way of life, it’s a way someone wants to express himself or herself. It looks fancy on the road. For example, if you’re driving a Ferrari and I’m driving a Lexus – if that Ferrari was like a normal number 49753 and the Lexus was 1111, then which one will you look at? Of course you’ll look at the Lexus. The plate number says ‘this guy is special.’”

Another buyer said that a better number “gets priority”.

“Even at hotels, if there’s valet and you have a three-digit plate, they let you park it out front or take your car first,” he said, adding that a nice car without a good plate is “pointless”.

A third buyer said: “Most of the time beautiful girls stare because they think you have a lot of money and they want it.”

Meanwhile, in terms of strategy, bidders looking to buy just for investment tend to back down.

“But if it’s a collection, you have to forget all the rules and pay any amount,” he said.

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“Some people want it because it’s their birthday or year of birth. Others want it because it’s the car model number – like I am sure whoever bought ‘H488’ (Dhs284,000) will put it on their new Ferrari 488.”

As the RTA’s banner at the auction reads: ‘It’s not just a number, it’s a statement’.

megha@7days.ae