How Much is My Personalised Number Plate Worth?
By: Kezia Farnham
Last updated: 13 December 2018
When considering if you should sell your personalised number plates, it is crucial to provide prospective buyers with a realistic quote. On the one hand, you want to make a profit. We get that. It is easy for sellers to undervalue their plates and lose out. Perhaps, they could have charged a bit more for some extra cash in their pocket.
On the other hand, being too assumptious can diminish your reputation by putting off the erudite buyer. Rather than making big bucks, you may find the a for sale sign never goes away. We can’t stress the importance of accurately valuing your plates before selling.
While the number plate assessment is a holistic process, comprising of more than one consideration, we have created a useful contents page to navigate the blog post. The contents will be particularly useful when returning to the site for reference.
1. Number plates with popular first names
2. What initials increase my plates value?
3. Evaluate the backlink's domain authority
4. Does the plate value vary depending on word resemblance?
5. How to calculate how much my plates are worth
If you are asking yourself what’s my registration number plate worthť, you are in luck if your registration plates spell out a popular name. These names are highly sought after and readily marketable. As a number plate seller, the price tag would be in your favour. For example, Rachel or Joshua would be valuable number plates. Keep in mind, increasingly, children are being given unique names. For this reason, if you have a common name it could be profitable to cash in soon.
The best way to find out if your name is popular, besides using common sense, simply check out the baby names websites. You can search by year. Bare in mind, names that are popular now, or within recent years are less likely to be of high value. Your potential buyers are likely to have the name on your number plate or be giving the customised plates as a gift to someone who does.
There will be fewer people buying number plates that are popular now, particularly the unusual names. Think about it. People may buy it as a gift for new parents or an extremely organised parent might buy it for their child’s 18th birthday, yet, it’s less likely. So don’t just look for this year. Go back a bit. What was common 15 or 20 years ago? What was popular before that? Of course, the value of the last name is relatively consistent.
Similarly, popular initials are more valuable. Apparently, there are over 30,000 individuals called John Smith who live in the UK. So if you have a plate that spells out this name, you are in luck. When it comes to reg plate value, frequently used initials mean a more high-demand reg plate - and therefore a bigger price tag.
In the US, a sizeable and diverse software company analysed the data of their employees to figure out the most popular initials. As it stands, they found that J, M, S, D, and C reoccurred the most for first names. The most frequent letters for last names began with S, B, H, M, and C. Of course, your culture and location may impact the popularity of your plates. However, their data is still a helpful guideline which could be applied here in the UK in order to estimate the value of a number plate.
It isn’t a secret that the age of your plates will affect the ultimate selling price. Cherished number plates are the most valuable, these are plates that were released before 1963. These types of private number plates are referred to as dateless and don’t have an age identifier. As such, older number plates tend to incur steep dividends.
Current styles, also known as the new style, find themselves at the opposite end of the price spectrum. These number plates are often sold with lower number plate value. For example, there are plenty of cheap private plates under £200 for people on a budget. If you have this type of plate, it’s worth assessing the value and ensuring you sell it for the best price.
Yes, yes, yes. Have you ever found yourself staring at a plate, trying to work out whether there is a word? Admit it, we’ve all been there. If someone has to figure it out, chances are that it will be valued lower than a clear replicate of the word. A fragmented plate, one which isn’t an exact match, is of less worth.
However, even number plates which aren’t precise replicates of a word will vary and obtain the potential to be profitable. It should then be priced on a sliding scale depending on the resemblance letter and number configuration of your chosen word.
For example, the word happy spelt out as HA17 PYY is currently priced at £480 or £18 a month on finance. Spelt as HA55 PYY it is £835 flat out or £29 on a monthly basis. At the higher end of the spectrum, for £29,875 outright or £823 a month, your number plate could spell it this way: H4 PPY. Of course, these numbers and available options change quite quickly. However, this example demonstrates how the resemblance impacts a plate’s worth.
Your plate’s value rests on many factors: age, style, word resemblance and popularity. It is impossible to make an accurate evaluation based on a singular reason. Valuing a private plate takes time and patience. However, if you are trying to get a quick figure, fill out this form for a free number plate valuation and receive a quote.
The next step will be to choose a platform to sell your plates. Of course, you don’t want to give away the hard earned profits. Look for a reseller who doesn’t take any money from the final sale. If you need assistance, contact us to discuss the best course of action. We can provide you with an accurate valuation and guide you through the selling process.