This is the most common question we get asked from almost all sellers. Of course, everyone who is selling their Car plate number would want to find out the selling price so that they( the seller ) can decide if it is worthwhile selling their vehicle number plate.
Here is our secret to evaluate the selling price of Vehicle Number plates. There are basically 3 ways to get an assessment :
- Comparing with market price
For example, if the seller wishes to sell a double-digit car plate number 22, we can get a price aggregation from our current listing to provide a bench market selling price. Depending on the Prefix nonvintage car plate-like 22 can ask for around $13-15k
- Last transacted price
The market price which is also the asking price might not be accurate as a seller might deem and value his number 22 at $25,000 due to sentimental value or perhaps what his friend told him. So, if we solely just evaluate the car plate number based on what the market is asking/calling the price might not be accurate. A better benchmark would be the pass transacted price. In our case in June 2020 we sold a number plate SKD22K at the price of $13,800, this should give the seller more concrete and ideal of how much they can sell the car plate number for.
- Past purchased bid price
We can also advise the seller based on his past bid – purchase price of the car plate number comparing to the current pricing of the number. Example SKD22K was secured via LTA bidding in June 2011 for $12,000 (only an example) after using the number on his car for 10 years or so he is happy to sell off the number plate above the price of $12,000. We would share our views with the seller on his selling price.
Valuating the car plate number is more of an art then science as the car plate number is not backed to any fix assets, having said that value of car plate has support by demand since the 1950s.
In our opinion Car plate number is very much a willing buyer , willing seller product. So long as you are happy with the selling price and the buyer is happy with the buyer price the deal can be done.