Why do people spend 100k on number plates?

[jaydee]

Just looking at Shannon's last auction and see a white on black NSW plate with the digits 321 went for $102,000 and some others for around the 20k range and one for 40k.

I often see big dollars paid out for number plates, and they're not even old, just reprints, so what's the attraction?

Is it a case of people having so much money they just throw it around? I see at the same auction a VK SS Group A went for 90 grand, and a 1949 Vincent HRD Rapide 998cc Motorcycle for 58 grand, I know which I'd rather have and it's not a stupid number plate.

[jmack]

because they can

[mik]

Because they can.

[99AUXR]

Lets just say I wish I could spend that much on a plate. However never in my life will I. . . .Unless I win the lottery

Good on them!

[Nikked]

Why do people spend money on anything?

[tlub]

yes that is a question that needs to be answered. cannot see that sort of thing being worth that type of money, but saying that I would and have spent a few dollars on them

[Nikked]

Originally Posted by tlub

cannot see that sort of thing being worth that type of money

Well, that's point is made redundant since, well, someone paid that much for them...


obviously they are....

[Trump]

Some people can buy into the myth.

Some can't afford to.

Some see the myth for what it is and choose not to buy into it.

[simon varley]

it can be an investment as they rarely go down in value. Pretty sure it's tax deductable on a commercial vehicle if you class it as advertising. If not then it's probably a tax dodge.

[GASWAGON]

Originally Posted by jaydee

Just looking at Shannon's last auction and see a white on black NSW plate with the digits 321 went for $102,000 and some others for around the 20k range and one for 40k.

I often see big dollars paid out for number plates, and they're not even old, just reprints, so what's the attraction?

Is it a case of people having so much money they just throw it around? I see at the same auction a VK SS Group A went for 90 grand, and a 1949 Vincent HRD Rapide 998cc Motorcycle for 58 grand, I know which I'd rather have and it's not a stupid number plate.

I'll take the 'Vincent Rapide' anyday thanks......Cant see what the relevance is to a number plate with '321' on it???

[staity]

As the saying goes "A fool and his money are soon parted"...

[Charliewool]

I'd take the Vincent!

[Auslandau]

Originally Posted by staity

As the saying goes "A fool and his money are soon parted"...

....... unless that fool has a crap load of money.

$50.00 to throw on something trivial is nothing for some. $50,000 for some is the same. Not everything has to be an investment but is just a must have for some!

If anyone pays the asking price, doesn't that then determine its worth?

[jaydee]

I get that some people are filthy rich, but why not buy some art, a Pro Hart or something, a sculpture, rare coins, stamps but a number plate, what the...

I have a really old number plate off an old truck that must be 75 years old at least, but it only has sentimental value. But if it's truly old and worn with rusty marks etc, why isn't it as valuable as a repo plate. Just what is it that makes them valueable, that's what I don't understand. I get the Chinese like the number 8 in their plates, it's supposed to be lucky.

[Auslandau]

Because 3 lettered number plates were the orginal plates from way back when it all started. There are not 999 of them as they changed at some point with less than 400 available IIRC. They are still legit number plates and are just very very collectable. Will always be worth something. You think the amount for 3 lettered plates are alot? Wait till you see the prices for 1 to 9 plates! Would be hard to find the car worth more than the number 5 for instance.

Also they are a ceramic hand made plate and are the original hand made and painted dating from early 1900. They are a numbered antique!

[Nova 8]

Originally Posted by jaydee

I get that some people are filthy rich, but why not buy some art, a Pro Hart or something, a sculpture, rare coins, stamps but a number plate, what the...

Art gets put up in some room in their house and maybe rarely looked at, number plate is seen every time your near your car and is used every time you drive your car.

Many people will say "why buy new rims for your car when the original ones did the job just the same" Because it brings us enjoyment, focusing on the $ amount just means you lack the means (which I do too).

[carwant.com.au]

Could be a great investment.
As long as we have 999 people in each state who have plenty of money and love cars, likelihood of the price will keep going up.
Not a bad investment then - and tax free if it's your own personal collection

[Auslandau]

The lower the number the more its worth and more prestigious.

Found a story from the AGE back in 2011

Nine Network celebrity Sam Newman sold his VIC 17 plate for more than $250,000 to McDonald's franchise owner Barry Fitzgerald, who sold VIC 40 to millionaire property developer Colin De Lutis for more than $200,000

..... and the NUMBER 1 plate is owned by the ex boss of Fosters. Valued in excess of $2,000,000 but its worth would only be tested if it goes up for sale.

SO ....... in other words, 100k for a number plate is chicken feed!

[Madaya]

My plates are the first plates my folks got when they came to Bunbury 43 years ago which ended up being my first plates. Cost ~$100 for replacement black on whites and transfer to the FG.
I could not think of another plate to take its place.
My mate (family friend) up in Darwin, saw the significance straight away without me saying anything i.e. "where these your Dad's plates..."
His older brother has his Dad's original plates.
All in the Family.
But I've got no probs with folk collecting or investing. Someone should or everything would be buried on the rubbish tip. No history.

[Itsme]

Prestige plates for prestige cars for rich/well off people to show off, ego tripping imo.
Just a human trait we have.

[UtesRGR8]

I can see why people buy those early plates for investment and for enjoyment especially if you can trace the history of them. Most of us here love the history behind our passion. I purchased a couple of plates for my XY over the years, 351FRD and FRD393. They aren't of the early period but fit into what I want. Now it depends on what powers my ute as to what plate goes on.

[jaydee]

Edited see next post

[jaydee]

"Also they are a ceramic hand made plate and are the original hand made and painted dating from early 1900. They are a numbered antique!"
In the catalogue they look brand new, no chipping, fading, rust etc, or patina as they call it.

"Art gets put up in some room in their house and maybe rarely looked at, number plate is seen every time your near your car and is used every time you drive your car".

Until someone pinches them while your sucking on a Café Latte somewhere then hangs it up in their shed for a laugh, 100k gone.

If there was some history behind them like they were once on the Premiers car in 1928 or the Gov Generals car during WW2 I could understand it.
Ah well I guess I will just have to put it down to one of life's mysteries.

[xisled]

Number plates that sell for huge amounts are a status symbol.

I regularly see the merc with number plate 1 here in vic.

[66 STANG]

In most cases, it is not the actual number plate itself that you are technically buying. It is the "rights" to display the number plate on your car, which is where the value lies. If you are lucky enough to get the actual original issued plate with your purchase, then that is a bonus!
I personally like 2 and 3 digit number plates on cars. It shows that the owner is an enthusiast and makes for great "train spotting" games.
BTW, there are only 900 "3 Digit" plates available in each state. The other 99 would be either 1 or 2 digit plates.
With limited numbers available and a high demand, of course they are going to be worth good money.

[simon varley]

that's the point isn't it - it's not the lump of metal you hang on the front of the car that's worth the money, it's the intangible number that people pay the big money for.

[ford71V8]

I saw "2" and a "4" respectively on what I think was a Ferrrari (was very brief spotto) and some flashy Porsche here in Adelaide. Both were just out of town near a hospital so possibly surgeons / drs

[crainger]

For the original hand made plates, I think it's great that something from Australia's motoring history is so valuable and collectable. While you'll probably never see them on a car. The fact they still exist and in one way or another, they are legal plates is awesome.

[red_hotxr6]

Those number plates, didnt just get to 20k or 60k or 150 thousand dollars it took time and the people buying them see it as an investment like when stefan bought q1..he is buying that plate cause it was there, he is buying it too make money 10 -20 years down the line...

[Alan D Segal]

Originally Posted by xisled

Number plates that sell for huge amounts are a status symbol.

Exactly. Nobody needs them, they're just a nice thing to have if you can afford it. Like most other things people buy.