If you’ve been looking into buying yourself a private number plate, you may have noticed that there can be huge differences in prices- with the cost of many plates breaking into 6 figures. However, many people don’t understand why the prices of plates vary so much.
There are now well over 30 million private number plates on the market, with prices varying from just a couple of hundred pounds to over £100k.
The prices of number plates are most commonly determined by experienced dealers, and several factors are taken into consideration during this process.
The novelty value and age of a number plate are the two main factors that have an impact on price. The amount of numbers on a registration can also have a major impact- the fewer numbers there are the higher the value.
As so many people look for number plates that bear their initials, the more demand there is for certain letter combinations generally means that the value of the plate will be a lot higher.
The prices of private number plates seem to be continually on the rise, so they’re also a fantastic investment as well as the perfect way of personalising your car.