Well, maybe not quite overnight. But close enough.
And one of our clients nearly lost out.
Intrigued? The story’s pretty simple. In an earlier post I talked about some factors that affect number plate value:
” A number plate can also decrease in value if it relates to a particular theme, such as a specific car model. If that model is no longer made, demand gradually drops, and, consequently, so does the value of the registration number. “
Of course, the opposite of the above also applies. If a new model of a vehicle is introduced, any private registration number which might be suitable for that vehicle increases in value. And that’s what happened here.
To maintain some anonymity, I won’t reveal the whole registration number. But to give you an idea, the car registration number was X6 ###, where ### was an 3-letter abbreviation of a popular male name. You may be aware that the BMW X6 is to be introduced this year. Private registration numbers that contain existing BMW car model numbers (such as M3 and X5) already fetch higher prices than similar registration numbers. When X6 had no significance, there was no reason for X6 ### to be worth more than, say, Y6 ###. But with the new BMW X6 on the horizon that changes. Suddenly, X6 ### increases in value. If you know the X6 is coming…. and you understand a little about how the market in personalised number plates works.
Our client knew his registration number X6 ### had some value. What he didn’t know was the the BMW X6 was coming along, which would increase its value. So he was a little surprised when the salesman he had purchased his most recent BMW from called him (several times) and offered to purchase the registration number. His suspicions were aroused, so he told us the story and asked us to value the number plate for him. We were happy to enlighten him.
Of course the car salesman knew about the BMW X6. Tut tut Mr Salesman!
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