Dubai License Plate Sale Sells for $15M

Charitable Food Aid Project Funded by Sale

Bloomberg has reported that a two-character license plate, “P7,” has sold for a record-breaking $15 million at auction, surpassing the previous record set in 2008. The auction, which was held in Dubai, United Arab Emirates, was met with a winning bid of 55 million dirhams ($14.97 million at the time of writing), outdoing the previous record sale of a plate bearing the number 1, which sold in Abu Dhabi for 52.2 million dirhams.

The identity of the successful bidder has not been made public, yet ostentatiousness is a customary trait in the area, therefore probably attaching it to a lavish Bugatti Chiron or any similar exclusive vehicle. In spite of that, even if the plate does end up gracing the enviable Chiron Profilee, the vanity plate is still worth much more.

It’s strange to inhabit an environment where a punched coin of light burden can be appraised more highly than one of the most fantastic designs formed by engineering yet, yet six- and seven-digit worths of license plates typically at charity auctions occur commonly in the United Arab Emirates. This certain plate will specifically back the 1 Billion Meals Endowment, which is an international food assistance campaign established by Sheikh Mohammed bin Rashid of Dubai.

Interestingly, other license plates have been known to fetch a higher price than the one mentioned, the most remarkable example being the “MM” vanity plate that was put on sale in October 2021 for an astonishing $24 million. Unfortunately, the plate failed to find a buyer.

A UK license plate with the inscription “F1” owned by Afzal Khan could easily outprice any other plate if it were ever to be sold, and as new models of hypercars and supercars keep emerging, numbers that may seem insignificant now could become worth a fortune in the future.

License plates are persistently evolving since protocols and political agendas keep shifting. In Australia, they permitted emojis to be used while California allowed non-obscene yet unacceptable registration numbers in the year of 2020. Even more currently, Michigan and Arizona has given their go ahead on digital license plates as well.

Vanity tags are an indication that you want to garner recognition from passers-by, yet if you certainly can pay for one, why not give it a go? With the extravagance of getting your own customized tag, feeling proud and satisfied is what comes along with taking such an action.