Personalised plate sale breaks DVLA record
By: Click4Reg Team
Last updated: 01 December 2014
As part of their 25th anniversary of selling personalised number plates, the Driver and Vehicle Licensing Agency (DVLA) enjoyed a three day event in Glamorgan last week. There were several plates that were gaining a lot of interest. Now it’s been revealed that the DVLA’s previous sale record has been broken after one owner paid £518,000 for the ’25 O’ registration.
In the past, people have paid a lot of money for popular registrations, including those such as ‘F1’ and ‘1D’, with the latter holding the record for the highest sold plate with a sum of £352,411. However, in the latest sale, classic car dealer John Collins was desperate to get his hands on the ’25 O’ registration; a combination of letters and numbers which relates to some of the world’s most expensive cars, including the Ferrari 250 GTO. As a result, Mr Collins has paid £518,480 for the registration, which he intends on attaching on his own Ferrari which is worth £10m.
Though the plate only had a £4,000 reserve price on it, the amount of pre-auction interest resulted in the auctioneer starting the price at £50,000. Saleroom, online and telephone bids were soon coming thick and fast, pushing the price up above quarter of a million. Finally, the hammer went down at £400,000 which means, after buyer’s premium and VAT’s added, the true value is over half a million pounds. But Mr Collins didn’t stop there, and also bought ‘500 FER’ for £3,000 and ‘250 L’ for £130,000.
Talking about his auction win, Mr Collins explained: “It is the ultimate plate for the ultimate car. I could have bought a really good Ferrari for the money. But I decided I really wanted the plate and I wasn’t going to stop bidding on it. Every time I put a bid in, the underbidder responded straight away. The plate could possibly have been the first £1 million personalised registration! It is a lot of money, but I was calm as I have been in auction situations before where I have bid more than $20 million on a car.”
Luckily, most personalised number plates don’t reach such costly sums, allowing many regular people to afford these classy registrations for their vehicles, often for the sum of just a few hundred pounds. However, as part of the latest auction, history’s been made with the DVLA selling their most expensive private plate in history.