Sunday, March 18, 2007

Number Plate Sold for Dh 3.12 Million

A colleague of mine accidentally pasted the link in my chat window (Thanks N!), but I couldn't resist taking a look. I know, curiosity killed the cat and all that bullshit.

My 1st reaction when reading this was "HOLY SHIT?! THEY GOTTA BE KIDDING ME!"

Seriously, us GCC Citizens are suckers when it comes to vanity. Losers.

And one question, why does the UAE gov'mint need more money? Reminds me of Kuwait and "Our budget deficit"


Read below or click here:

About Dh30m raised for government funds

Published: 18/03/2007 12:00 AM (UAE)
Gulf News
By Daniel Bardsley, Staff Reporter

Dubai: A two-digit number plate was sold in Dubai yesterday for a record-breaking Dh3.12 million.

Plate No E15 was the most expensive of the dozens of prestigious numbers sold at an auction by the Roads and Transport Authority (RTA).

Other expensive buys among the 79 plates that went under the hammer were F30, which went for Dh2.2 million and E60 at Dh1.76 million.

Yesterday's auction at the Al Bustan Rotana Hotel was the seventh of its kind conducted by the RTA, but the first one in which two-digit plates were up for grabs. A total of about Dh30 million was raised for government funds.

Abdul Rahman Khalifa Al Shair, Director of Legal Affairs at the RTA, said: "This is more than we expected. The figures are very high."

The previous record at one of the RTA's "Distinguished Number Plate Auctions" was Dh230,000 for a three-digit plate.

Up a gear

Early five-digit plates in the auction, such as F99990 and F33330, went for between Dh32,000 and Dh89,000, but things moved up a gear when sales of the four-digit numbers began, with F1010 going for Dh172,000.

A few three-digit numbers came close to breaking through the Dh1 million barrier, with F555 selling for Dh900,000. "Some of them are buying at auction to sell on, while others are buying for themselves. Anybody can buy but there is no special treatment on the road for people with these plates. They are just for show," Al Shair said.

When asked why people choose to invest in special number plates, he added: "It's like buying a Mercedes instead of a cheap car. Why buy a Mercedes when you can have a small vehicle?"

One of those buying a plate was Mustafa Hayavi, an Emirati who runs a trading company. He secured F3030 with a bid of Dh64,000.

"This is a nice number and it's a good price," said Hayavi, who currently drives a 5-series BMW but said he will not be using the plate for the time being.

"Me and my friends we have several numbers. We can sell them later on," he said. Before the RTA began selling number plates, number plate auctions were organised by Dubai Police.


eshda3wa said...

for a NUMBER
these ppl have too much money on their hands!
ppl are starving and their spending millions on a freakin NUMBER
(ok eshda3wa calm down!)

aham shay the guy that payed 64,000 and said it was cheap

ya dude real bargain hunter u r!

Sene said...

OMG!! That much money for number plate!! Unbelievable!!

These people have so much money, that they do not know how to spend it. So, I guess they are spending wherever they can,LOL!

Anonymous said...

eshda3wa & sene: this is what happens when a person lacks brains and has too much money to spend.