Article Posted 30/06/2009
When private number plates were first launched onto the market Twenty years ago, the plates were a sign of individuality, and they fast became indicators of status and wealth.
Over time, an increasing number of drivers from all classes have invested in them. Therefore they are still becoming more and more popular as time goes by.
Despite some people's perception of private plates, the demand continues and the urge to stand out from the crowd and declare your identity and status increases.
Car registration plates which spell out a surname, especially short plates and dateless plates, tend to be most popular, with prices starting from around a few hundred pounds and rising to several thousand pounds. Because they retain their value, they are considered an excellent long term investment.
For example, the registration plate 1 NU, valued at £2,400 in 1995, and would now be valued at £75,000. In many cases, the number plate itself will be more valuable than the car which it is on. There is also an added advantage that a bespoke number plate will hide the age of your car.
Many plates are now coming up in the DVLA auction and achieving astounding prices. Last year, a number plate with the registration WEL 5H was sold for a staggering £27,500 at a DVLA registration plate auction, held in Newport, to a Welsh businessman living in Oxford.