Sell a number plate through a dealer, and feel the sting. It may seem like a good deal, with no upfront costs. But number plate dealers charge big commission fees, which can add up to £1000’s. And the buyer pays a price too.
How come? Dealers provide a seller with a number plate valuation. Valuations may vary from one dealer to another. A price is agreed between the seller and the selected dealer. The dealer then adds a (hefty) commission fee, and advertises the registration for sale (usually on their website). This is what’s called selling a number plate ‘on commission’, the dealer simply acting as a ‘broker’. So what’s wrong with that? Not a lot. After all, it applies to a lot of industries. The difference here is that there is no good alternative if someone wants to sell a number plate privately and avoid the hefty fees.
A dealer’s commission can be up to half of the retail selling price of the registration number. For example, a number plate sold by a dealer at around £995 could leave the seller with a settlement of just £500. So the seller gets a low ‘trade’ price, and the buyer pays an inflated dealer price.
Naturally, selling registration numbers privately will yield a better price. A one-off ad in a magazine or national newspaper, however, is an expensive option at £35-£50 per insertion. Some publications are regional and only around for a few days. Repeated insertions soon adds up.
Online advertising is best suited to selling number plates. So what’s the answer? A website that specialises in selling number plates for private sale. And no commission fees. Just a simple advertising fee. The Plate Market offers just that.
About The Plate Market
www.theplatemarket.com offers online advertising for number plates. There are no commission or set-up fees. All number plates are advertised on the site, with full speacialised number plates searching.. Selling number plates on the site is simple and effective. Extra options like full-page feature articles really promote individual number plates.
