A car expert has urged drivers with private registration plates to check their value after a recent £73,000 auction sale.
A number plate that read 5 PS was sold for an eye-watering £73,010 on Wednesday (May 17), according to DVLA auction data.
Similar plates were sold for much less in the 1990s. For example, registration 4 PS sold for £5,100 in April 1993 and 6 PS sold for £5,800 in July 1993.
Jon Kirkbright, sales director at PlateHunter, says that the contrast in figures show that purchasing private registration plates can prove to be an extremely lucrative investment opportunity.
The expert said: “I always say that every three to five years, private number plates should double in value. Buying a private plate is a really good investment as they often go up in value.
“5 PS is proof that this can happen. It was auctioned for £73,010 by the DVLA this month. Whereas 6 PS was sold for £5,800 in July 1993.
“This suggests that the similar number plates that were sold previously for a fraction of that price, could sell for the same or similar.
“Without seeing comparisons like this, a lot of customers may not realise that their plates are worth so much money after buying them for much less decades ago.
“People are often looking for proof of increased value and good investment, and this is it.”
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 prides itself on being the UK’s cheapest number plate supplier with over 56 million personalised number plates for sale with prices starting from £25 plus VAT and transfer fee.
The company also offers a free registration valuation service that can be completed hassle-free online.
Mr Kirkbright encouraged those with private registration plates to enquire about how much they could be worth today.
He added: “We get 250 valuation requests each day. We review them and provide the customer with the price we would offer to stock it as well as the price that they should expect for retail.”
Data suggests that shorter number plates are in higher demand at auction and manage to bring in a bigger return. Earlier this month, a plate reading 82 O was auctioned and fetched a huge £70,000 price tag.
Other plates sold at the auction included 41 0VE which sold for £37,510 and a plate reading 180 Y was sold for £37,060.
People looking to purchase private number plates sometimes do so for personal or practical reasons. Drivers will likely be looking for plates which resemble names, initials or words that are meaningful for them - as well as numbers which correlate with special events such as birthdays.
Mr Kirkbright added: “Our niche is that we sell the cheapest number plates in the country, with prices starting at £25. People want to get private number plates for many reasons.
“Some people want to hide the age of their vehicle, others have had their plate cloned and keep getting parking tickets or speeding fines.
“We have been trading for 11 years and our service sets us apart from everyone else. We have good reviews and we are down to earth and highly experienced.”
For more information or help with purchasing a private number plate - or selling one - visit PlateHunter. Alternatively, you could follow and contact them on Instagram, Twitter or Facebook.
This content was first published by KISS PR Brand Story. Read here >> Car expert urges drivers to check private registration plate value after £73k auction sale
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