There is no doubting that personalised number plates make excellent investments, but researching how much you should be expecting to return is the key to successfully making a decent amount of cash.
Because all number plates are unique and cannot be duplicated, it is unlikely for your plate to decrease in value. However, certain combinations should expect to bring in a substantial income in years to come.
But how do you identify the ones worth investing in and how much should you expect to receive when you come to selling?
If you are looking to purchase a number plate with the intention of making a profit, it is important that you think like a buyer and factor in these price-influencers when deciding on your investment:
Is the number plate you’re looking to invest in readily available?
The rarity of a number plate is often a key influencer in the price it would expect to sell for. Let’s take the name Sarah for example – there are many different combinations that can achieve the same effect.
Number plate business about to boom, invest now
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“S4 RAH”, “SA14 RAH” and “SA10 RAH” can all be used to show the same name, meaning that there are a variety of other combinations readily available. This means that the plate would be easier for a buyer to get hold of; indicating that it wouldn’t fetch the high prices you may have expected.
However, popular names like Krishna do not have a number of combinations that can give the same effect. Just last year, the number plate “KR15 HNA” sold for a whopping £233,000 – a substantial amount more than “KR15 HAN” which managed to sell for £98,500.
Is your number plate eye-catching?
Generally speaking; the lower the amount of words/letters your number plate has, the more it is worth.
“25 O” – the most expensive number plate ever sold in a UK auction – sold for a huge £518,480 in 2014 due to it consisting of only three digits.
These kinds of eye-catching vanity plates should expect to increase in value dramatically as this kind of plate is built on the old style of British plates. No longer in production, these type of cherished number plate should expect to gain you a huge return on your investment.
Does your number plate contain common letters that can be used as initials?
Many people are prepared to splash out more on a number plate that signifies their life, interests and personality without it being overly-obvious. What better way to do that than to add initials to a reg plate?
Private number plates that use common letters such as S, J and P would undoubtedly be worth more than plates consisting of U, X and Q letters. This is because there would be more chance of a John Smith looking for a private plate than Ugne Quail.
When determining the number plate in which you have the greatest chance of gaining a decent ROI from, we’re sure that these tips from Platehunter.com will enable you to get the best price in years to come.