What is a Personal Number Plate?
Did you ever co e across a car number plate that is a bit different from the common number plate? The unusual number plate you saw can be shorter than the average number plate, or refers to a specific name, or simply does not have any sign as to the age of the vehicle. Whether you are in favor on this concept of having a personalized registration or not, it is now slowly become a popular personal car accessory as what you can see with thousands of UK motorists doing it.
People buy these personalized registrations for a number of reasons. Some of the reasons might be to advertise their business or profession, to represent their initials, convey a hilarious message or to simply disguise the real age of the vehicle. But for many customers, they see these items as a good long term investment.
Whatever is the reason behind buying a private number plate, it just prove that the high demand of having one is increasing. Today, auction for UK number plate still attract many people with many bids that are beyond the reserve prices. While the price of a car will often cheapen over time, a personalized number plate can maintain its value, and in other cases it even increase.
But what really makes a number plate valuable?
The value of personal number plates may vary and it can go from a couple of hundred pounds to tens of thousands of pounds. Also, they are typically more expensive if it spell a specific name or word. When it comes to personalized number plates, the fewer digits and letters it has, the higher the value is.
Earlier issues made number plates more valuable, before registration numbers are related to a particular year that the vehicle was manufactured. These popular brief registrations generally contains fewer characters in it and are quite distinct. These type of number plates are rarer than the modern registrations because of the simple facts. There are only a small handful you can find in the open market and very few is in circulation.
Because the salable value of a personal number plate is entirely market driven, it is hard to know its value. The way to determine the right valuation of a private number plate is by looking at how interested a potential buyer is.
In order to determine the value of a private registration, the desirability of the buyers must be achieved. Another factor is to check how many number plates bear the same message to yours.
But like some other investment opportunity, a personal number plate cannot make sure if you gain profit in return. There are people who consider personalized number plates as a waste of money and effort.