Did you know an Emirati businessman decided to pay a whopping AED 18 million for the #1 Sharjah license plate at the Emirates auction in 2016. UAE is home to some of the most luxurious cars in the world and to complement them, car owners add a unique number plate. If you fancy an expensive number plate, find out how you can get one below.

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Where to find a VIP number plate?

There are several options available such as online portals like Dubizzle. It has a dedicated section just for buying and selling number plates. Agents, traders or even individual sellers can advertise their number plates and quote a price. Another place where unique number plates can be bought is at the Emirates auction which specializes in number plates. It also holds seven world records for the most expensive number plate ever sold.

What’s the value of my number plate?

It’s easy to identify what is the value of your number plate. First thing is the number of digits, 4-digit number plates are more valuable compared to 5-digit number plates and fewer the digits means greater the value. Next is the series which means the letter ‘A’ on a number plate. These plates hold much more value compared to letter ‘K’ or any other which are rather common letters especially in Dubai. Even small changes such as repeated back to back numbers will also fetch a significant value.

Is spending on a number plate a good investment?

If you’re buying a number plate with the intention of investment then this might not be the best idea. A lot of factors come into play such as economic condition, a small change in regulation or a new series of number plates are introduced which may devalue your investment. Usually, these special number plates are purchased solely as a status symbol and not really considered a long term investment.

Do I need to visit the RTA?

If you’re the seller then you will be required to provide your and the buyer’s documents such as license, Emirates ID and Visa copy (for expats). Once the transfer has been completed, a text message is sent to the buyer notifying them that the transfer is completed. Also, the buyer will receive a certificate which mentions the plate number and the owner’s name. This certificate is simply an additional proof of the ownership as RTA’s system already has all the details.

Fun Fact: UAE currently holds the world record for the most expensive number plate, #1 which was auctioned at AED 52.5 million in Abu Dhabi in 2008. It was a part of a charity drive organised by Emirates auction.

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[Related: Five steps to transferring your car registrationHow to register your car in the UAE]