Rare plate auction achieves a record $4 million
As the gavel fell on the last plate auctioned at the Limited Release rare number plate auction at the Sydney Motor Show on Saturday (November 4), NSW Roads Minister Eric Roozendaal said a NSW licence plate auction record of $4,171,500 had been raised.
"The auction was an outstanding success and far exceeded expectations," he said
"A record $4,171,500 was raised at the RTA Limited Release rare number plate auction, the first in 15 years, when 100 New South Wales number plates went under the hammer.
"All the plates were popular with none passing in, and as anticipated, the three-digit numeral only plates were the most popular. In fact the 13 plates which went for the highest amount at auction were all three-digit numeral only plates," he said.
The highest price reached was $120,000, for the Ferrari plate "288", the highest amount recorded at a public license plate auction in NSW.
The four-digit numeral only plates also sold well, the highest paid being $77,000 for "1118".
"Going into the auction the unknown plates were the new-style Black Euro plates, which proved a huge success and very popular. The average amount spent on the Black Euro plates was just over $19,000 and many sold for upwards of $30,000."
"The tone of the auction was set with the very first plate - N 888 - which was sold for $51,000 a huge $41,000 above what was expected."
"The popular 'big block' numbers 426, 428 and 429 each sold for $80,000 and above."
"Shannons' auctioneer Bill Wellwood helped create a lively atmosphere throughout the auction and the bidders were certainly enthusiastic. It was an exciting and successful event for bidders and the RTA."
The top seven plates sold were:
The top six Black Euro plates sold were:
288 $120,000
N 2 $55,000
174 $97,500
N 888 $51,000
211 $91,000
N 9 $44,000
988 $90,000
N 6 $42,000
545 $90,000
N 5 $37,000
429 $90,000
N 4 $34,000
The range of plates that went to auction included a selection of prestige number and letter combinations for Porsche, BMW, Mercedes, Lexus and Jaguar as well as the highly collectible James Bond 'N 007' plate that fetched $24,000 from one avid collector.
Fifty of the number plates auctioned were three and four-digit vitreous enamel numeral only plates, while the other 50 were a limited edition series of the soon to be released Black Euro plate.
The vitreous enamel plate range included number 174 upwards and included the aspirational Ferrari numbers 599, 355 and 288 and the classic 'Big Block' plates 426, 427, 428 and 429.
Porsche owners were particularly well catered for, with the numbers 993 and 997 representing iconic models of the 911 sports car range, while 9110 was among the four-digit enamel plates that went under the hammer.
The RTA's Chief Executive, Les Wielinga, said the auction was the first held by the RTA in over 15 years and delivered results well above expectations.
"The rare plate auction presented an opportunity for collectors and motor car enthusiasts to bid for plates never before released at one of the most prestigious plate auctions in NSW history."
"New South Wales motorists will all benefit from the $4.1million raised, which will be re-invested directly in to road safety programs, road upgrades and maintaining the network across the State," Mr Wielinga said.
Shannons National Auction Manager Christophe Boribon predictions of a record event were realised.
"I expected the three-digit vitreous enamel plates to sell in the range of $40,000-$80,000 and the four-digit plates to go for $15,000-$30,000. However I was pleasantly surprised by the amount paid for '288', an indication of the great value license plates hold for investors.
"As for the Black Euro plates, the highest paid for this new style was $55,000," Mr Boribon said.
Mr Boribon stands by his advice to investors that both styles sold at auction will increase in value in years to come.
"The market for special number plates is huge and has proven itself to be recession proof," says Boribon. "To the serious collector, they are like works of art - originals that can never be repeated. They have an investment life all of their own quite unrelated to the value of the cars they adorn."
The Rare Number Plate Auction was held on Saturday 4 November at the Parkside Auditorium, Darling Harbour Convention and Exhibition Centre, Sydney.
The Black Euro plates feature an 'N', for NSW, on the left hand side (the same as existing White Euro plates) as well as the NSW Coat of Arms and the St George Cross.
The distinctive Black Euro plates have a back plate which measures 520mm by 110mm (the same size as the White Euro plates), these include a slimline front plate measuring 84mm by 372mm.
