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There are vanity plates, and then there are vanity plates in Dubai. While personalized license plates in the United States are relatively affordable (with some exceptions), the United Arab Emirates has more than its fair share of astronomically expensive vanity plates that show off the owner’s wealth and status.
Last month, an all-white license plate with the characters “P7” sold at auction for 55 million dirhams, the equivalent of around $15 million USD. Thought to be the most expensive license plate ever, it will likely replace the current Guinness World Record holder, another UAE license plate with the number “1” that sold for 52 million dirhams ($14 million USD) back in 2008.
In Dubai, license plates with just a few characters tend to be the most valuable, with buyers either holding onto them as an investment or displaying them on an equally eye-catching car – the ultimate status statement for a driver in Dubai.
Most Noble Numbers:
- This wasn’t entirely an exercise in vanity, though. Proceeds from the "Most Noble Numbers" auction, which totalled around $27 million USD, will help fund an initiative to fight global food insecurity.
- The identity of the “P7” plate’s new owner has not yet been revealed. As owner of the “1” plate, billionaire businessman Saeed Abdul Ghafour Khouri is the current world record holder.
- With no income tax, Dubai is a magnet for the ultra-rich – some of whom are the kind of people who would spend millions on a license plate.