Dubai plates sell for over $600k at auction

DESIGNER PLATES: The 56th Distinguished Number Plates Auction raised a record $11.2 million.

The appetite for designer number plates in the UAE continued unabated on Saturday, with the numbers 43 and 61 being sold at auction in Dubai for 2.3 million dirhams ($626,300) each.

In the 56th Distinguished Number Plates Auction organised by the Roads and Transport Authority (RTA)  a record 41 million dirhams ($11.2 million) was raised through the sale of two, three, four and five digit number plates.

In total four double-digit plates went under the hammer for 11.1 million dirhams. In addition to 43 and 61, number 78 sold for 2.24 million dirhams while number 89 went for 2.06 million dirhams.

Three-digit number plates included 200, 300, 800 and 900, as well as 110, 220, 330, 440 and 550. The highest selling three-digit plate was number 200, which went for 1.2 million dirhams.

Other number plates on offer included 1000, 2000 and 3000, as well as 30000, 40000, 10001 and 90009.

The UAE has become the global hotspot for number plate auctions thanks to surging oil revenues and economic growth drastically boosting people's disposable income.

Emirati businessman Saeed Abdul Ghaffar Khouri broke all records for the world’s most expensive number plate in February, paying 52.2 million dirhams ($14.5 million) for plate number ‘1’ at an Abu Dhabi auction.

Khouri more than doubled the previous record held by Talal Ali Mohammed Khouri who paid 25.2 million dirhams for plate number ‘5’ in May 2007, also paying 11 million dirhams for the number '7' plate at the same auction.

The UAE now holds the seven most expensive plates in the world.

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