Owning private plates seems to be a good idea these days
However, if you want a personal registration that faithfully represents your name, you’ll need a lot of money! If you’re prepared to settle for one that, at a slight stretch of the imagination, resembles your name, you may be looking at a grand or two. The more common the name, the more expensive – there are more Jones and Singhs looking to stamp their vehicles with distinctive representations of their names than there are Agustins and Engleberts. Accurate representation and high popularity equates to the highest prices.
Depending on how popular, you could opt for what would more likely be a cheaper solution and use your initials – the random combination of characters preceding or following the initials removes the distinctiveness and hence the price. Or take a different approach and show off your interests, profession or favourite football team.
The bottom line is that, generally, the more distinctive and shorter a private plate, the more expensive it is. Further, the totally distinguished ones can take you up to a quarter of a million and beyond, for example CK1 and E1. In fact, in 2014, the number plate 25O went for £518K at a DVLA auction, breaking the previous record of £440K for F1. If you’re interested in reg 1D, you may face competition from its namesake band. If they hang around that is. It sold for £325K last decade.
If you’re not interested in personalising your vehicle, you could consider purchasing private plates as an investment. With each being unique and a growing market, a carefully chosen one could bring you a good return and....they’re maintenance free. Very few people would mock you now. Realistically, you’re unlikely to make much on randomly selected ones, but choosing shorter plates or ones with special significance and you’re far more likely to profit. Especially in the long run. For example, Plate Master secured SH13 KHS (Sheikhs) in December 2012 for £399 and sold it the following year for £12,500. Consider dateless registrations too and / or ones with popular initials, for example 123 JPS.
Here’s a final tip. Start your search here and now. Search for private plates.