For many years, if your number plate spelled out a name or resembled a well-known word, it was simply a matter of luck. Issued by the DVLA without any consideration for this, getting a plate now considered popular was a completely random coincidence.
Over time, dealers in second-hand number plates began to see trends in the kinds of plates people were buying and the amounts of money they were willing to part with to purchase them. Some plates were clearly viewed as being more valuable than others and dealers in plates began buying and selling them based on certain attributes.
While what makes a number plate valuable can depend on the purchaser’s perspective, there are some clear reasons why some registrations are more sought-after than others. Number plates may be bought and sold for significant amounts for a variety of reasons, sometimes, the number plate may be worth more than the value of the vehicle.
What’s the value of my number plate?
To get an idea of your number plate’s value, the first step is to consider the desired qualities in registrations and see if yours ticks any of these boxes.
Demand is the major factor affecting the price a plate may sell for. The more buyers are interested in your registration, the higher the amount you’ll receive for it. You may find you have many potential buyers competing to purchase your plate and this can drive up the selling price.
The age of a number plate can also be an important aspect of how valuable a plate is. The earliest number plates, sometimes referred to as dateless plates, are often highly desirable. Unlike the current registrations issued, as well as the prefix and suffix style plates that preceded them, these early plates include no age indicator. For car owners who wish to keep their vehicle’s age a secret, this can be a powerful selling point.
Shorter registrations are also highly prized. While mainly this is due to them being older number plates, there are other reasons as well why a plate with fewer characters might be considered more valuable. It’s legal to have the width of your number plate shortened providing it still possesses the appropriate margin around the characters. A smaller number of alphanumeric characters makes for a smaller plate, allowing more of the car that carries it to be seen.
Finally, if the characters on a number plate resemble a name, or popular phrase or word, this can also hike the value. The more closely it resembles the name or word, the more highly it’s likely to be valued.
How do I value my number plate?
The first step in selling a number plate is to make sure you get an accurate valuation of its worth.
Valuing a number plate on your own can take time, patience and in-depth research. A far faster and easier way to complete the process is getting expert assistance from a number plate specialist like New Reg. With our simple-to-use contact form, you can send us your registration along with some essential contact details and our team of experts will get to work. With a wealth of experience and knowledge from buying and selling number plates, we’re perfectly placed to make a plate valuation for you.
We’ll email you our assessment and let you know what your plate is worth, and if you agree, you can go ahead and sell via us. While we hope you’ll do this, you’re under absolutely no obligation to sell through us, so there really is nothing to lose by getting in touch.