In recent times, the popularity of personalised number plates has gone up considerably. Personalised number plates were initially known as the status symbols of rich and famous people. However, today private number plates have become a must-have accessory for motorists. People from all backgrounds and ages have discovered the benefits and joys of owning private number plates and hence the number of private number plate owners continues to grow.
There are a variety of reasons behind purchasing private number plates. Number plates are essential requirements of every vehicle. By having a distinctive number plate, your vehicle can stand out from the crowd. There are many businesses that purchase private number plates to advertise their company in a unique way. Many collectors purchase private number plates as a hobby and a few have them as an investment.
Number plate enthusiasts frequently have more than one registration, while there are several people who own huge collections of these private number plates. The trend of investing in unique number plates has been increasing. A lot of investors have also received exceptional returns from their private number plate collections.
For instance, the private registration 1 RO was initially sold for £6,000 in a DVLA auction that took place in September 2005. Since then, the present market value of this registration number is £125,000 which is an outstanding 2,000% return on the initial investment.