Have you considered buying customized license plates for yourself or your business?
This can be an excellent move for personal or business branding. Especially if you think of something really catchy and memorable to put on your plate.
Read on…
A Guide to Customized License Plates
The license plates KR15 HNA and TR15 TAN were recently purchased at the same DLVA auction. The KR15 HNA plate was purchased for a whopping $312,000 (£233,000) while the TR15 TAN plate was purchased for $33,500 (£25,000). This shows that customized license plate numbers are still as popular as ever.
So, what is the reason for their enduring appeal? There’s a sustained and even growing demand for these prestigious items.
Here are the top 6 reasons why customized license plates are so sought after.
6 Top Reasons to Get Customized License Plates
1. Appreciating the History of Motoring
Historical registration numbers for the earliest days of vehicle registrations are some of the most in-demand license plates. To get the notable license plate number A1, Earl Russell literally queued outside the vehicle registration office overnight back in 1903.
Unlike what most people believe, the license plate A1 was actually not the first plate to be issued. Still, it was an impressive and prominent license plate number to own, which is a fact that Russell himself recognized as he camped outside to get it.
The old registration numbers, which are commonly referred to as cherished number plates, are usually the most desired among car enthusiasts. For the lovers of classic cars, the opportunity to own an early, ‘dateless license plate number’ can be very tempting.
2. Statement of Individuality
Customized license plates make a car stand out from the crowd. Choosing the best one can be an exercise in creativity and fun, comparing the various options available and picking the one that best meets your needs. Simply put, finding the right customized plate is a great way to express your personality.
Instead of having an automatically issued license plate, the individuality of the customized plate means that it can also make a great and unique gift for a relation, partner, or friend. Private plates also tend to be easier to remember than the typical combination of numbers and letters – who hasn’t had the experience of their mind going blank after being asked for their registration number by a pay-and-display machine?!
Related: The Magic of You – Master the 10 Pillars of Personal Branding
3. Customizable License Plates are a Great Investment
Besides being a sign of individuality, customized number plates can be a real investment for the enthusiast. Each pair of plates is unique, which means that they aren’t at risk of being replicated and devalued in that way.
If you are able to accurately predict the registration plates that are likely to have a good resale value in the future, there’s a good chance that they will increase in value over time.
The plate 45EN was purchased in 2004 for $5,100 (£3,800), sold in recent years for $19,300 (£14,400), while the plate 2G, purchased in 1994 for $7785 (£5,800) is currently valued at over $134,000 (£100,000).
Needless to say, there are no guarantees. Still, many people have discovered that the customized number plates they purchased in the past would have cost – and could be sold for – much more currently.
The earliest, dateless private number plates will probably remain the most valuable. Plates containing popular words or names, along with those with 2, 3, or 4 digits currently provide amazing returns to their owners once they go on sale, and this is something unlikely to change in the coming years. Why not use this number plate finder to help you find your ideal plate?
4. Disguising the Car’s Age
Standard car registration numbers make it easy to tell a car’s age. Newer plates show the car’s year of registration, while plates from before the millennium associate letters with the car’s year of registration.
Personalized number plates, on the other hand, give drivers the chance to have a registration plate that reveals less information. Car models produced over several years can have private plates that hide exactly how old the car is, and older vehicles in great condition can still look younger.
Still, it is worth noting that personalized number plates that are actively aimed at misleading people about the vehicle’s year of registration aren’t allowed. So, a vehicle manufactured in 2001 cannot be equipped with a plate that suggests it was first registered in 2014, for instance. With dateless, cherished plates, however, this isn’t an issue.
5. Sign of Prestige
The undeniable fact is that private license plates are considered highly prestigious. Prince Willian and Kate left their wedding in a car with the registration plate JU5T WED, and Ireland issued the plate VIP 1 specifically for a visit from the pope.
The most expensive number plate ever sold by the DVLA was 25 O and it attracted a staggering $693,000 (£518,000), followed by F 1 that sold for $589,000 (£544,000).
Privately sold plates have actually attracted higher amounts and, outside of the United Kingdom, the plate ‘1’ sold for $9.7 (£7.25) MILLION.
It is still possible to achieve the prestige of a personalized number plate for significantly smaller sums of money. A car can be accessorized with a personalized plate for tens or hundreds of dollars or pounds, without the need to spend too much cash, so the impressive status the items impart are within reach of many people and not just popes and princesses.
6. Business Branding
James Huntley, a scrap metal dealer, spent $80,300 (£60000) to acquire the number plate SCR4P. The passion that he had for his work meant that he sent 3 times what he had originally planned, but he was overjoyed with his purchase.
Theo Paphitis, who’s most famous for his role as one of the investors on Dragon’s Den, purchased the customized plate RYM 4N in recognition of his stationery business.
The Managing Director of a funeral home based in Worcester has even secured the plate COF 1N.
Ryman’s Stoneacre Properties, on the other hand, own the plate FOR541E.
Business branding involves much more than just a well-designed logo and printed letterheads. Companies always lookout for new and innovative ways to promote what they do, and private plates are an eye-catching and intriguing way to get some extra attention.
Accountants are unable to quite reach a consensus regarding whether private number plates are a tax-deductible expense. Even so, why not consider the ideal combination of numbers and letters that is likely to boost the visibility of your brand?
