A single letter number plate has broken records overnight, selling for more than one Aston Martin Vantage.
The market for traditional license plates has been red hot in recent years, but now Low-digit alphabetic license plates have started to command a lot of money.
Overnight, Victorian license plate ‘Q’ sold for a hammer price of $362,000 through Slattery Auctions, which is believed to be the highest paid for a single letter plate in Australia.
A total of 11 bids raised the price, with the winner paying just $390,000, including fees.
It is not known if the new owner will have to pay to have number plates issued from Queensland, where they currently reside.
The sale represents a 100 percent increase in value over three years, with the license plates selling for $181,000 through a Shannons auction held at the Motorclassica show in 2019, the first time such plates have been auctioned. since its launch nearly a decade earlier. .
Known as ‘exclusive number plates’ by VicRoads, ‘Q’ was one of 24 single-letter plates originally sold at auction in 2010, attracting a hammer price of $50,000, with the letters ‘I’ and ‘O ‘ retained due to their similarities to ‘1’ and ‘O’.
At the time, ‘A’ sold for more than double that amount, bringing in $110,000, and ‘X’ came in second with $100,000.
Despite the new record, low-digit alphabet plates still have some way of catching up with number plates.
In May 2022, the Victorian heritage number plate ’14’ broke records, selling for $2.27 million, well below NSW ‘4’ which was the most expensive Australian number plate publicly sold, grossing $2 .45 million in 2017.