Join Date: Aug 2008
Location: South Africa
Ferrari Life Posts: 1,291
Registration Plate F1 worth £6 million
Owner turns down offer
A businessman has turned down an offer of over £ 6 million for his F1 registration plate. Mr Kahn has a collection of impressive private plates including 4HRH and NO1 but the F1 is the most desirable but it currently sits on his Bugatti Veyron supercar.
Mr Kahn paid a massive £ 440,000 back in 2008 for the cherished plate which was a British record. The 109-year-old registration was on a Volvo S80 which was used by the chairman of Essex County Council with the local authority using the funds from the sale to raise money for a charity which aimed to raise the standards for young drivers.
It has proved to be a fantastic investment for Mr Kahn as the plates value has increased more than ten times with the current offer for it at over £ 6million. However, Mr. Kahn, who runs A Kahn Design in Bradford, rejected the offer believing it is worth considerably more.
Personal plates are a great investment if you make the right choice. VIP 1, which originally belonged to Pope John Paul IIs Pope mobile, was bought for £ 62,000 in 2004 and then two years later Roman Baranovichi bought it for £ 285,000. HEN 2Y cost £ 6,300 in 2005, and was bought for £ 20,000 in 2010. Celebrities are huge fans of personalized plates Vinnie Jones (100 VJ), Phil Tufnell (BE57 CAT), runner Iwan Thomas (R400 RUN), Ian Botham (B33 FYS) and Lord Sugar (AMS 1).
The highest price paid for a plate sold by the DVLA in the UK was $pound 352,000 for plate 1 D. Mr Kahn holds the record for the highest price paid for a private sale. Drivers in the United Arab Emirates are even more fanatical about personal registrations. The single digit 1 sold in February 2008, for an amazing £ 7.25 million. Personalised numberplate specialists regtransfers.co.uk marketed another numberplate, reading 'X1', for a staggering £ 1million last September, but there has been no information on what it finally sold for.
The DVLA have over 30 million registrations available to buy online if you are looking to buy your ideal number plate, the process really is quite simple. To begin your search using the DVLA personalised registrations simply enter some initials, your name, or anything else that you would like to have on your number plate, in the yellow search on the site. The results will then give you a small selection of the choices available to you.