Professional Plate
Professional Plate How Private Plates Can be a Good Investment <a href="www.speedyreg.co.uk">Private number plates</a> are a new and innovative addition to the business portfolios of peop...
Professional Plate
How Private Plates Can be a Good Investment
<a href="www.speedyreg.co.uk">Private number plates</a> are a new and innovative addition to the business portfolios of people looking to invest in commodities that are more diverse. Some of the most in demand plates have been sold for figures in the hundreds or even thousands of pounds in recent years, which has raised the question - what is the investment potential of number plates? In the current economic climate and with a worldwide recession looming, it would seem that private number plates are a burgeoning area of interest for investors looking for a safe place to put their money.
Why are people so interested in number plates? And why are some willing to pay large sums of money for personalized number plates? The key motivation is that they are a symbol of individuality that can also make what is already an impressive car look even better. They are also a bit of fun in an area of bureaucracy, lightening up life on the road.
Private number plates are by their very nature personal - this is part of the key to the hidden value of some of these plates, namely what they are worth to someone as a personal statement rather than just as an object of value. By definition, there can only be one plate that perfectly encapsulates someone’s name, gives out a message about themselves or incorporates a sense of fun. The chances are that there will always be someone who wants a plate that perfectly illustrates something about them.
Whilst plates such as ‘Big 1’ or ‘F 1’ have been sold for thousands, the key for the investor of more modest means is to try to pick number plates that are likely to be perennially popular, for example those that contain common names with number combinations. These types of plates are always likely to be saleable. The number ‘1’ with a name is always likely to be a good seller, as is creative usage of numbers with letters or in place of letters. The advent of text language may create new opportunities, particularly amongst younger people.
What may seem like an ordinary named number plate at the moment might be available at an affordable price. However, who is to know if in the future someone of that name might become a famous pop star, professional footballer or otherwise attain celebrity status and then decide that they want your plate? The chances are they will be willing to pay good money for it. Even if you aren’t lucky enough to get a celebrity interested in your plate, somebody who may be a fan will probably look for that plate at some point, either for themselves or as a birthday or wedding gift.
So considering that number plates are available from as little as £100 and that you do not even need a car to get one as long as you have the legal certification, it would seem that you cannot go too far wrong by investing in private number plates, particularly when some more traditional investments are less appealing and financially risky. You may even find some people are willing to cash in on a popular number plate because some of their other investments are not doing so well.
There are companies who will attend auctions for you to save you time and who will also support you through the ins and outs of the buying and selling process. So if you are considering where to put your money at the moment, consider private number plates. The numbers might just add up.
About the Author
Jayne Henry of Speedy Registrations Ltd - speedyreg.co.uk. Speedy Registrations have been supplying number plates to the public since 1984. Based in Northern Ireland we also specialise in Irish number plates. They aim to provide a choice of personalised number plates to meet all requirements.
For interviews, quotes, images or comments contact:
Jayne Henry
Tel(DDI): 02866 387 124
E-mail: sales@speedyreg.co.uk
The Rights to Private Number Plates
Car registration numbers are issued by the Driver and Vehicle Licensing Agency (DVLA) for taxation purposes and enforcing road laws. On today’s roads however the uses of number plates extends past their primary function and are commonly used to personalize vehicles by people all over the country. From happy couples celebrating 50 years of marriage to motor enthusiasts looking to add the finishing touch to their prized set of wheels, private number plates are becoming ever more popular by the day.
Private number plate suppliers offer access to huge databases of car registrations being sold across the country from cherished number plates to the latest 07 registrations. A common misconception when buying private number plates is that you are simply buying the plastic number plates which go on the car. This would make the number plates worth thousands of pound very expensive sheets of plastic indeed! When buying a personal number plate you are in fact purchasing the rights to a particular car registration. Once assigned to a vehicle, the rights to this private registration fall to the registered keeper.
When you sell a vehicle with private number plates assigned to it, the new registered keeper acquires the rights to the registration number. If you wish to retain the rights to the private registration there are two options. Firstly you can transfer the number plate onto another vehicle you own or secondly you can transfer the car registration number onto a V778 Certificate of Entitlement.
Holding a car registration on certificate means that you can retain the rights to the registration without it being assigned to a vehicle. Applicants wishing to use this facility should complete DVLA form V778/1 and include the V5 logbook, MOT (if applicable) and the retention fee of £105 payable to the DVLA with the application. To transfer a number plate from car to car you must complete DVLA form V317 and include the V5 logbooks, MOT certificates (if applicable) and the fee of £80 payable to DVLA.
By selling private number plates you are effectively waiving any rights you have to those particular registration numbers. If you wish to sell your private number plates there are a number of options you can take. Firstly you can sell the vehicle with the car registration still assigned. The new registered keeper will then have full entitlement to the number plate. Alternatively if you are holding the number plate on retention you can sell the certificate to a willing buyer. You will have to have the buyers name added as a nominee if they wish to assign it to their vehicle.
To add a nominee name to retention certificate the owner must sign Section 1 and provide the nominee name. The certificate must then be sent to the DVLA with payment of £25. An updated certificate with the new nominee name will be sent out typically within two weeks. A third option is to sell advertise the number plate whilst still assigned to your car. Once sold the number plate can be transferred vehicle to vehicle via the DVLA.
Selling and buying personal number plates privately can be risky for both the seller and buyer. One of the safest ways to sell private number plates is via a reputable number plate dealer. By doing so both the seller and buyer have the backing of professionals who can act as a middle ground for the exchange of certificates and monies.
About the Author
Ross O’Donnell has always been a fan of private number plates and he now writes and works for Cape Plates. Cape Plates offer a free valuation and selling service and can act as agents to ensure a safe sale of your registration number.