While investing in private number plates might
seem like a weird investment, it actually has the potential to offer a high
return on investment. What's really important to note about private number
plates is that they are unique, and there is no chance of them being duplicated
in the area they've been registered in until they are unregistered. These
distinct plates have significantly increased in popularity over the past decade
and more and more people are looking for their perfect plate. And this is where
this investment proves its worth.
Perhaps you are looking for ways to fund your
new business or just want a side hustle to earn an extra income. Investing in
specific nameplates, or even low-digit dateless plates can provide you with an
outstanding return on investment. Here, having a clear understanding of the
market is crucial. Keeping track of the trends will help you to know which
number plates will be profitable in the future.
For many people, the prospect of earning from
home seems like the best thing ever. Buying and selling number plates is a
unique side
hustle with tremendous returns for your efforts.
How to make money from private number plates
Buy low
Perhaps the most important advice in business
is to always buy low and sell high. By purchasing cheap personalized
registrations in bulk below market value, you have the best chance of making a
significant return in the future. Target registration numbers that are likely
to sell fast from Newreg.
For instance, popular initials containing
interesting names and words will be much easier to sell. Seek out plates that
do not replace a letter with a number, for example, "3" for
"E" or "4" for "A". This is because more people
will be looking for a more seamless plate that's easier to read. Also, vowel
initials tend to be in much higher demand than less frequently used words like
X,Y,V, or Z.
Where
to find them
One of the cheapest ways to find private
number plates is to purchase cars that already have a private plate on them. A
registration that no longer bears significance to the buyer will sell for a
cheaper price. Browse through the local paper, online paper, and the
classifieds. You can also search for private numbers on online marketplaces.
DVLA
auction
Alternatively, you can attend auctions,
particularly the DVLA auction. The DVLA remains among the best
places to find rare, in-demand private number plates. Each year, more than
1,500 plates are put on sale, some as wholesales and some as individuals. It
should go without saying that purchasing in bulk is much more cost-effective.
However, for the more interesting unreleased plates, you will need to buy them
individually.
In these auctions, you will be able to find
dateless registrations that read common names. DVLA auctions are held once
every few months. Online auctions are also available, which make it more easier
and convenient to participate in the auction regardless of where you are,
saving you the cost of driving to and from the building.
Sell
high
When looking to sell your private plate
number, we suggest that you do so through a dealer. Just like a gold-selling
service, the dealer will assess the price of your plate. They will consider the
popularity of the name, the marks on the plate, as well as the previous selling
prices.
The private plates can be sold assigned or
separate from a vehicle. However, please note that if you are selling your car,
you have to transfer the number off the registration, otherwise the person
purchasing the vehicle will gain full rights to that registration. Typically,
applications to retain registration numbers take up to 3 weeks. Thus, you will
need to be prepared for this wait time when looking to sell the car.
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