By Sarah Townsend
Classified ads website says 4,500 ads posted since category launch, highest single asking price of $1.9m
More than 4,500 number plate adverts with a market value of AED130 million ($35.39 million) have been uploaded onto UAE listings website Dubizzle in the last three months, it said on Tuesday.
Dubizzle launched a ‘number plates’ category for the first time in July. During that time, the category has become the second largest for Dubizzle Motors after ‘used cars’, ‘overtaking accessories’ and ‘parts’, the website announced.
It said the average asking price per plate is AED32,000 ($8,712) and the most expensive at present is being advertised for AED7 million ($1.9 million).
The most searched-for number plate on Dubizzle is 786, the Abjad numeral sum of the Arabic letters of the opening phrase of the Quran (Bismillah ir-Rahman ir-Rahim, which means, ‘In the name of Allah, the most Merciful, the most Beneficent’).
Dubizzle Motors receives an average of 1.68 million active users per month; within that, the number plates category has received over 100,000 visits in the space of the last 30 days.
The time between upload and deletion of an ad is four days, suggesting that transactions are occurring at a rapid pace and there is a large market for unique and personalised number plates in the UAE, Dubizzle added.
Jean-Pierre Mondalek, general manager Motors at Dubizzle, said: ““The Number Plates category is all about being local and understanding the needs of the UAE’s motoring community. Distinguished number plates are very popular in the UAE, however they are not always accessible.
“Dubizzle is enabling buyers and sellers of number plates to transact in a liquid secondary market, giving buyers an opportunity to search and be notified when their dream plate becomes available, and sellers a path to monetise their valuable and previously illiquid asset.”For all the latest tech news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
4.500 ad? it is not even newsworthy. they are collecting the offered prices (they are not even sold). dubizzle news quality is going down.