Seller is targeting 'rich Arabs' from Gulf region with distinctive registration plate
A 31-year-old from the United Kingdom is looking to sell a rare personalised number plate – 4RAB (ARAB) – for over $870,000.
Saud Khan is hoping to tempt “rich Arabs” from the Gulf region with the number plate, which he bought in a private sale three months ago.
Khan, from Birmingham, has put the registration up for sale at RegTransfers, a number plate selling website, claiming that the asking price is 725,000 pounds ($877,000), although the website says POA (price on application).
He told Arabian Business: “After some initial interest I’ve been contacting dealers online and they’ve been telling me that it’s worth somewhere in the high six figures bracket.
“I might be tempted to hold onto it for a while as the price of number plates only really appreciates in value. I’ll only be selling if I get a good offer.”
Khan would not reveal how much he paid for the plate but said it was “a lot less” than its current asking price.
He added: “Obviously there’s lots of wealthy Arabs who live in London or from the Middle East who come across for holidays and bring their fancy cars who would be interested in owning this rare number plate.”
Personalised number plates in the UK are often seen as status symbols. According to research from the DVLA, nearly six million registrations have been logged to drivers. Collectively the total cost of these number plates has totalled around £2billion ($2.4 billion) for the Treasury since it was set up in 1989.
The most expensive number plate ever sold was 25 0 which fetched £400,000 ($483,000) at auction in November 2014.For all the latest transport 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.