How are Private Number Plates Valued?

You’ve probably seen private number plates as you’re driving around, and you’ve also likely seen an increasing popularity of them. They’re an inexpensive way to add some character to your vehicle, without modifying the exterior of the car at all. Private number plates aren’t just fun and games anymore; they can also be used as a way to turn a profit.

Unique Registrations can see Profit, but Stick to Common Names

Personalized private plates range in quality like any collectible. With over 55 million available for the population to register, you’d be surprised at how expensive they can get. Although it’s possible to buy a cheap plate if you’re looking for something rare, you could be shilling out over £100k.

If you’re thinking of buying one of your own, you can visit a supplier which specifically sells private number plates and personalized registrations. The key is finding a unique combination. For example, anything with vowels or popular names can give you a high return. It’s best to avoid anything with “X” or “Z,” as they are the two least popular letters.

However, what if your market is someone who wants something more unique? What if you have a name that is hard to find? That could also turn a profit, but it’s best to stick to names like “Michael,” or “James” if you can snag them.

Age of the Plate and Lack of Numbers

If a plate has been in circulation for a long time, the value will increase. Some plates, however, are so unique that it doesn’t matter. The fewer the numbers, the higher you can charge as well. It’s common to see people use “4” as “A” for example to register an already existing plate.

For example, if “Water” is taken, but “W4ter” isn’t, that plate is unique enough to be registered to you. The reverse can also be true, though. If you find a plate with the number “1,” within it, the plate will be twice the price.

Cherished Registrations are the Most Sought After

If you manage to find a word or phrase that means something to a person, they’ll buy it no matter the cost. This could include a phrase a loved one has said or even a celebrity quote. There is also a market for band or song names as well. Basically, if it’s in popular culture, you’ll be able to sell it at a higher price.

The only snag is if you assume something will be popular in the future but doesn’t retain that popularity. This is a risk with any business, but it could be worth the risk. It’s a lot easier to register a plate based off of a new band then Pink Floyd or the Beatles.