License Plate Number ‘1’ Sells for $14.5 Million

Written By: Seyth Miersma

Filed Under: All News, COUNTRIES/WORLD MARKETS, Earnings/Financials February 17th, 2008 11:30 AM

Just as we were recovering from the news that a British design entrepreneur had spent nearly a million dollars to buy license plate “F1,” a new ridiculous world record comes along to take its place.

Emirati businessman Saeed Abdul Ghaffar Khouri, shattered the record for most money spent on a number plate, by paying 52.2 million dirhams, roughly $14.5 million, for plate number “1” at an Abu Dhabi auction this weekend. Khouri said that while he hadn’t purchased “1” as an investment, he did expect the value of the plate to double over the next two years. The lucky winner has reportedly not decided what car he’ll run the new plate on.

The auction for the world’s most valuable number plate was held on the behalf of the Abu Dhabi police force, with money raised said to be going to victims of car accidents.

+ Motor Authority: Number plate ‘1’ sells for record $14.5m

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11 Comments

Steve February 17th, 2008 12:47 PM Link

A fool and his money…

Jonathan Fung February 17th, 2008 3:55 PM Link

A fool and his money…

…will probably turn a 100% profit in 2 years.

hwyhobo February 17th, 2008 4:21 PM Link

Yet another reason to buy electric cars and power them from nuclear power plants.

Steve February 17th, 2008 4:53 PM Link

“…will probably turn a 100% profit in 2 years.” Meaning what? That some other guy will pay him twice as much for it?

An even bigger fool and his even bigger money…

MJK February 18th, 2008 8:14 AM Link

Thanks Steve..I thought my head was going to explode after reading someone sees a plate as a solid investment.

Americans Wish They Had This Much Money February 18th, 2008 9:47 AM Link

So while the West is paying $3-4.5 a gallon and their economies go into recession, the Arabs are buying up super-cars lavish homes, their countries become the center of attention for tourism and trade and their economies boom.

I can see were the jealousy might stem from…

Verbo.se » MMM: €10m License Plate February 18th, 2008 6:43 PM Link

[…] For the 3 people on the planet that haven’t heard. […]

al-cia-da February 18th, 2008 11:24 PM Link

And I thought the Veyron was a waste of money!

hwyhobo February 19th, 2008 4:07 AM Link

I can see were the jealousy might stem from…

You are confusing disdain with jealousy.

Fashion Plate: UAE license #1 goes for $14.5m - Carfansblog February 19th, 2008 6:24 AM Link

[…] Source: Winding Road […]

Winding Road » Archive » Question of the Day: What Car Do You Think is Worthy of a High-Priced License Plate? February 20th, 2008 6:30 PM Link

[…] Arab Emirates, plates are auctioning for higher than entire fleets of Ferraris. Last week, the number “1” plate sold for a record $14.5 million. But, don’t think that the oil-rich Middle East is the only […]

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