Cherished number plate sales have exceeded all expectations, with experts saying they are soaring. But are cherished number plates a good investment?
The answer is a straightforward yes; some personalised number plates are attracting keen investor interest. Getting a cherished plate valuation is the best way to discover how some can give you returns that exceed traditional investments like art, jewellery, watches, and classic car models.
Understanding Cherished Number Plate Valuation
Cherished number plates refer to older private number plates that are dateless. The DVLA issued these number plates before 1963, meaning they don’t have a year code. They become cherished because they have a special significance for some people, ensuring their popularity and investment returns remain steady.
Some car owners prefer dateless number plates because they can reflect several things. For some, these private number plates from the past reflect something well-loved and cared for. Others feel it’s an excellent heirloom or a good financial investment.
Whatever your reason for wanting cherished number plates, you purchase an exclusive number plate with significant weightiness and value.
When are Cherished Number Plates a Good Investment?
Motoreg Personal Number Plates has over a decade of experience buying and selling number plates, including cherished plates. You can buy, sell, or get a cherished plate valuation through its vast database. Here’s some expert tips on when cherished number plates make a good investment:
- Short number plates remain desirable because they occupy less room on a beautiful luxury car.
- Dateless number plates don’t indicate the year the car was manufactured, making them extremely popular.
- Number plates with two letters and a single-digit number have continued to grab investor attention, pushing their prices up. These are especially popular when they are the initials for a name.
- Like any personalised product, common names like Peter (P3 TER), David (D4 VID), and Karen (K4 REN) are trendy.
- Number plates with unique names or initials, such as “F1” or the initials of their wife, girlfriend, or daughter, and the number 1 at the end, are also highly sought after.
The UK’s private plate market continues to flourish, with an estimated worth of £2 billion, and it’s not just for the rich. Motorreg estimates that at least one-third of cars on UK roads carry a customised number plate, indicating the extent of this sector’s popularity.
It’s not unheard of that some sought-after number plates that sold for up to £10,000 three years ago now fetch about four times that amount. In some cases, investors have seen a 100% return within a year for a plate with a catchy name.
Getting a Cherished Plate Valuation
Like in all sectors, some dishonest dealers will tell someone looking for a free plate valuation that it’s worth more than its actual value to get the cherished plate on their database. It’s best to get a cherished number plate valuation from a professional dealer. These dealers understand the market better than anyone, ensuring the seller does not face disappointment, and the buyer pays the right price.
Unlike the rest of the car, the number plate can continue to grow in value with time. Unlike other investments, you can display your number plates without worrying that wear and tear will cause them to lose their market value.
You can buy a cherished number plate from an auction or a private seller, but third-party sellers have a more extensive variety at competitive prices. Whether you’re in the market for a cherished plate or want to value a reg plate to get an idea of its value, motoreg suggests you learn more about current number plate trends to help you make the correct decisions, helping you set a budget, know cherished plate values, and understanding what’s currently most popular.Are cherished number plates a good investment? Yes, you can profit from these as long as you understand the most popular buying options. Value a reg plate today and know if it has value as a cherished number plate.
Go to our home page to search for a plate, or call 024 7640 7604 to discuss anything private with us.
