Number plate sells for almost £300,000 at auction – Why the plate was so valued so highly

Number plate sells for almost £300,000 at auction – Why the plate was so valued so highly

One motorist has just spent almost £300,000 on a private number plate at a recent DVLA auction. A retired businessman shelled out a whopping £287,792 on the personalised registration at a DVLA auction in the Vale of Glamorgan. The small fortune was forked out on the short registration IG 1. This number plate costs the same price as some high-end supercars or even some houses across the country.

It is the third most expensive number plate after 25 0 and 1 D which cost £400,000 in 2014 and £285,000 in 2009 respectively.

The buyer Ian Guest purchased the registration to put on his Bentley Continental GT Speed.

“It was incredible,” he says.

“When the price went to £100,000 everything really became a haze.

“My wife Pamela expected me to pay between £240,000 and £260,000 but I never thought it would go so high.”

Guest did, however, pay less than he thought he might have to saying that he “drove down with a limit of £400,000 in mind.”

He also revealed that he spent so much because it was the ‘ultimate registration’ for his initials.

The hammer price for the number plates was £220,000 but several premiums and VAT caused it to rise to £287,792.

Significantly, the registration is the last in the DVLA’s portfolio which uses a combination of just two letters and a single number.

Jody Davies, DVLA Personalised Registrations’ senior sales manager, said: “DVLA is delighted with the huge interest in IG 1 and its selling price reflect that.

“Mr Guest and his wife are a lovely couple and we just hope they enjoy it.”

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