The World of Abu Dhabi's Luxury License Plates
The Wall Street Journal has tackled a story we first heard about last February, the rise in prestigious license plates in Abu Dhabi. In this growing area more and more pricey cars are hitting the road every day and a prestigious license plate number is a hot accessory. In Abu Dhabi, monthly auctions of worthy numbers, (typically 1-10 and 11-99 are the most popular), bring high bidders and license plate collectors forward to spend millions on that perfect number. Lower numbers are particularly prized as are combinations of digits that are the same as luxury car models. The normal price for five random digits is a $95 registration fee.
Earlier this year, license plate number "1" sold for $14 million making it the world's most expensive license plate. Abu Dhabi businessman Saeed Khouri bought that one and his cousin, stockbroker Talal Khouri, paid $9 million for "5" which became the second-largest sum ever paid for a license plate. His brother paid just over $120,000 for the "430" plate to match his red Ferrari F430. While Abu Dhabi might not be as as over the top as Dubai, it is still a booming area and it is the heart of the license plate craze partly because it is the capital of the UAE. The WSJ reporter Margaret Coker was at the monthly auction recently and watched as "9" sold for $4.2 million through an agent purchasing for a man who had been trying for months to get a single digit plate.
As the WSJ reports Abu Dhabi isn't the first place with a license plate craze. Hong Kong has had license plate auctions for years and Russian executives have gone to great lengths to secure custom tags. We aren't immune here in the U.S. either. In Massachusetts where I grew up, low number plates have a certain preppy prestige. Just ask my mother who has moved to Florida and is currently agonizing over parting with her beloved Massachusetts plate "2002" which belonged to her mother.
Reader Comments (Page 1 of 1)
boulderhorn Jul 2nd 2008 12:01PM
this has to be one of the most ridiculous examples of wealth mismanagement i have every heard of. if you are spending $5million+ on a liscence plate to put on a car, your priorities in life are a bit screwed up. There are far better things to spend money on, like more cars, boats, planes etc... not to say that donating some money to charity wouldn't be a bad idea either.
HMD Jul 3rd 2008 2:07AM
http://www.luxist.com/2008/02/18/worlds-most-expensive-license-plate/
maybe if you did more reading you would understand that the money raised in auction is actually donated.
J Jul 8th 2008 8:22PM
I don't trust them. I just don't trust them.
Angiebaby Jul 8th 2008 8:32PM
Well, I uh, hmmm... just don't see myself spending $14 million for a license plate. But if I had $14 million, I might splurge on a vanity plate for my sports car. What are they, like $25 dollars a year? Now that I'm thinking about it... maybe I'd need a vanity plate for EACH of my sports cars!
Chiqua Jul 8th 2008 9:19PM
Hey, just remember where they get all their money: screwing us with high gas and oil prices ! Greedy *ssh*le m-fers !! Too bad our illustrious government has no desire to take us off our dependence on foreign oil...while they vote themselves another double-digit pay raise... *ssh*le m-fers !!!
{{{laughter}}}
what Jul 8th 2008 9:23PM
Sure why not. They have more money than they know what to do with. We are the idiots who are making them so rich with the expensive Oil. Lets drill our own land already!!!!
Abu Dhabi National Oil Company (ADNOC)Manages and oversees oil production of more than two million barrels a day, which ranks it among the top ten oil and gas companies in the world.
www.adnoc.ae/ - 48k - Cached - Similar pages
Abu Dhabi (city) - Wikipedia, the free encyclopedia One of the world's largest producers of oil, Abu Dhabi has actively ... The emirate of Abu Dhabi is located in the oil-rich and strategic
what Jul 8th 2008 9:24PM
Sure why not. They have more money than they know what to do with. We are the idiots who are making them so rich with the expensive Oil. Lets drill our own land already!!!! Imagine how prosperous we would be!!!!!!
Dan Jul 8th 2008 9:41PM
I hope these money hungry bastards burn in hell for what they are doing to the working class people.
justpicky Jul 8th 2008 9:56PM
Anyone with a "right mind" wouldn't spend $14 million dollars on "one number " .
You can feed alot of people with $14 million
You could finanically help people with that much
money.
Better yet they could give me that amount and I'll
make it to good use .
There's to many people in USA who's losing there
jobs daily because companies moves oversea , given
foreigners the jobs ( traitors ) .
I know many people who could make better use with
that money. Gasoline , Shelter , Food , put American
workers to work , just to make it.
Prices are rising daily .......
Stats .....There's over 8 million people right now
( july 8, 2008 ) who's out of a job , there "was"
4 million jobs available , but that's been 2 months
or longer . Know where are they going to get a job?
So Yes $14 million could help everyone .
Millionaires Billionaires can help people who needs it , in USA Jul 8th 2008 9:56PM
#8 .......You're totally right .
#7 ....I was going to say that
looks like you beat me to it.
True , we're the ones who's making
FOREIGNERS RICH . While the middle class
people are taking a beating .
People who's NEVER been on the unemployment line , could careless UNTIL they're there , thereselves.
Im telling you , Keep this in mind , Never think less about anyone who's poor or not doing good financially right now , because you NEVER know when you're will doing less .
Look at Michaeal Jackson , Ed McMahon , and many other celebrities , they LOST there homes , oh they had millions of dollars , and they could of paid there homes right out , but they didn't . which they should had.
best this economy is hitting EVERYONE except for the MIllionaires / Billionaires and they could help others , if they want . because the poor and Especially the middle class are the ones who helped these "millionaires / Billionaires become who they're now .
Middle class for example brought products in which the millionaires / billionaires been selling . If it wasnt for them , rich wouldnt be where they're now . Living in there mansions etcccc.
You hear the rich say , "they give back " well start giving back in there own backyard ( USA ) . To help middle class .
this all revolves around .
If I was rich , there's no doubt I would help those who's unfortunate or people who needs shelter , food , gasoline , etcccc , Because I'm not a selfish person , like you see many Celebs are .
I know people who's not doing as good as me , and guess what I have helped them . if I can do it , the Rich can too .
adam Jul 9th 2008 12:38AM
Actually americans didn't get these "foreigners" rich. If you researched before assuming that these foreigners were screwing the American people to pay for these vanity plates. You are absolutely wrong since 1) the owner of plate #1 actually made his money in real estate. And two the UAE sells about 203 million worth which is minute compared to imports from Saudi Arabia and Canada. CANADA exports more Oil to USA then Saudia Arabia. So before we jump to the conclusion of blaming all these Arab foreigners start with the Canadians.
Missy Jul 9th 2008 12:40AM
Ahhh...don't ya'll get it? Anyone with that much money doesn't have to think about the money they are spending. It means no more to them then what you or I purchasing a candy bar does to us. And most of those people DO donate to charities regularily. Now if I had to pay for a vanity plate I'd want it to say MeMeMe. haha