Personalised number plates earn Gov £160MILLION a year – and your name could be worth a hefty sum
THE SALE of personalised number plates made the Government more than £160million in the last 12 months.
With more motorists looking to personalise their motor, custom plates are becoming increasingly popular.
Drivers wanting to finish off their car with their own plate are paying slightly more for a personal touch - but they are making more than their money back at auction.
According to figures from the Driver and Vehicle Licensing Agency (DVLA), personalised registrations generated a whopping £161,902,560 for the Treasury during the 2017/18 financial year.
The DVLA stocks around 50million personalised registrations, with prices starting at £250.
But plates that spell out common names often sell for thousands at auction.
The Government agency has previously auctioned off a DAV 3S (Dave's) and HEN 2Y (Henry) plate, selling for £9,100 and £6,300 respectively.
And even registrations designed to copy popular nicknames for the car itself are attracting hefty sale prices.
A DOR 1S (Doris) plate sold for £6,800, while HER 81E (Herbie) fetched £7,000 when it went under the hammer.
Motorists who are able to snap up a cheap personalised plate that represents their name could end up making a decent return if demand is high when they choose to resell.
LICENCE TO OFFEND What are the most outrageously rude number plates that slipped through DVLA’s net?
The DVLA is set to auction off a BR17 NEY (Britney) plate next month, with a reserve price of £700.
And if the lucky buyer is able to pick it up for close to that price, its value could climb into the thousands in the next few years.
Sales Manager Jody Davies said: “We sold DOR 1S, DAV 3S, HEN 2Y and HER 81E in the past, as well as personalised registrations where the meaning and significance seems much less obvious.
"It’s no surprise to find that people want to say something about their car in this way – whether the name is something personal to them or bit of fun that they want to share with others.
everything you need to know about number plates
“Personalised registrations can be sold at auction for varying – and sometimes very large - amounts of money, but online they start from £250 so getting the ideal plate for your car could well be less expensive than you may have thought”.
Last month, a rare number plate fit for a Royal emerged as Britain's most expensive custom registration, expected to fetch up to £1mllion.
But that will be blown out of the water if the world's most valuable licence plate sells for its £14million price tag.