A recent charity auction has broken the most expensive automobile license plate was sold in Dubai.
Plate D 5 bought by Businessman Balvinder Singh Sahni in 2016 for 33 million dirhams ($8.9 million) has been outshined by plate number P 7 over the weekend, sold for 55 million dirhams, equivalent to $15 million.
Emirates Auction sold plate number P 7, which at first glance appears to be the number 7 alone with the P off to the side. The identity of the buyer is currently unknown.
The UAE regularly auctions off vanity license plates that the super-wealthy use to flaunt their rank and wealth in order to raise money for charity.
The proceeds will go to Sheikh Mohammed bin Rashid’s 1 Billion Meals Endowment, a global food relief effort. He is the ruler of Dubai.
Vanity plates have also fetched eye-watering prices outside the Middle East: Someone bought the single-letter “R” plate at auction in Hong Kong earlier this year for HK$25.5 million ($3.2 million).
Per reports, California plate MM, valued at $24.3 Million, takes the top spot for the most expensive license plate in the world.
“Two-character plates are the hardest to find in the U.S., and plates using the same letter for both characters are rarer still. In fact, there are only 35 of them in existence. This particular plate is also dished up with an NFT, making it more valuable still,” Luxe Digital adds.
Source: The Independent Ghana