The Most Expensive P7 Number Plate Sells For US$15m In Dubai

Dubai recently witnessed a historic moment in the world of luxury vehicles as a VIP number plate, ‘P7’, was sold for a staggering 55 million dirhams (US$15 million) , making it the most expensive licence plate ever sold.

The auction, known as the “Most Noble Numbers” auction, was held in association with Mohammed bin Rashid Al Maktoum Global Initiatives and took place at the prestigious Four Seasons hotel in Jumeirah. The record-breaking sale was organised by Emirates Auction LLC and has now entered the Guinness Book of Records.

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The ‘P7’ number plate, which at first glance appears to be the number ‘7’ by itself with the letter ‘P’ off to the side, garnered worldwide attention due to its unique design and eye-popping price tag. The bidding started at a whopping 15 million dirhams (~Rs 33 crore), but quickly escalated to nearly 30 million dirhams as wealthy collectors vied for the coveted plate. The winning bid of 55 million dirhams was made by an undisclosed buyer, adding to the mystery and intrigue surrounding the purchase.

The proceeds from the sale, which amounted to approximately 100 million dirhams (~Rs 222 crore), will be donated to the Sheikh Mohammed bin Rashid-founded One Billion Meals Endowment campaign, a global food project aimed at providing sustainable food aid during the holy month of Ramadan. The auction house took to Instagram to share the news, expressing their pride in setting a new world record and supporting a charitable cause.

The sale of the ‘P7’ number plate for a staggering amount is not an isolated incident. In fact, the demand for VIP number plates has been on the rise worldwide, with wealthy collectors willing to pay exorbitant prices for these unique and exclusive license plates. The Times of India identifies several reasons behind the strong demand for VIP number plates, including superstition or religion, numerology, uniformity, status symbolism, ease of remembering, and simply the willingness to spend money for luxury and exclusivity.

While Dubai may be known for its opulent lifestyle and penchant for luxury cars, the trend of selling VIP number plates at exorbitant prices is not limited to the Middle East. In other parts of the world, similar auctions have taken place with staggering results. Earlier this year, a single-letter “R” plate was sold for HK$25.5 million (US$3.2 million or ~Rs 263 million) at an auction in Hong Kong, showcasing the global appeal of unique number plates.

In the United Arab Emirates, the practice of auctioning off vanity licence plates for charity has become a regular occurrence. The proceeds from these auctions are often donated to philanthropic causes, making the purchase of VIP number plates not just a luxury statement but also a way to contribute to charitable initiatives. The recent sale of the ‘P7’ number plate for a record-breaking amount will undoubtedly make a significant impact on the One Billion Meals Endowment campaign, helping to provide food aid to those in need during the holy month of Ramadan.

The identity of the buyer who purchased the ‘P7’ number plate for a staggering 55 million dirhams remains unknown. The bid was reportedly made by a panel number seven, who preferred to remain anonymous. The secrecy surrounding the buyer adds to the intrigue and fascination associated with luxury number plates, where wealthy collectors often vie to possess these exclusive symbols of wealth and status.The Most Expensive P7 Number Plate Sells For US$15m In Dub

The Most Expensive P7 Number Plate Sells For US$15m In Dubai

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