Culture|Garage

I’m always surprised by watching any reports that have to deal with the U.A.E. and this one isn’t any different.

Not only are they avid car collectors willing to spend millions building up their car collections, but even something as simple as a vanity plate turns into an all out bidding war.

The auction is held by the government and lower the number on the plate, the higher the price it fetches. Also certain number patterns (for example 22 or 99) go for higher prices. The money raised from the auctions go to a government-funded charity mostly helping traffic accident victims. In just five auctions, 300 plates have been sold raising over 56 million dollars.

The most expensive plate ever sold was the number 5 plate for an astonishing 6.8 million dollars, and it was 10 times more expensive than the Rolls Royce that it went on. The owner has his eyes set on the number 1 plate which will be auctioned off soon and he said he is willing to spend 15-20 million dollars maximum on it.

Link to video: http://www.cnn.com/video/#/video/world/2008/02/01/dinnick.vanity.plates.cnn

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