License plate auction in UAE brings in $9.8 million

Afzal Kahn of Project Kahn cashed out $870,000 for an F1 license plate. Crazy huh? Well not so much considering just days after we heard about Kahn’s prize possession, we heard of the number ‘5’ plate being sold for $6.75 million in the UAE, followed by which we saw the number ‘1’ plate being sold for $14.3 million.

Well, for the oil rich folks of the UAE it hasn’t ended there. In a recent auction for 57 special registration plates brought in some $9.8 million, with a double digit plate 50 G going for $926,000. Plate number 23 G came in second being sold at $795,600, while 32 G came in third fetching $681,000.

The auction, which was organised by Dubai’s Roads and Transport Authority, saw more than 300 bidders in a race to grab the limited double-digit plates left. Basically the lower the number your license plate carries the richer you are seen in society.

Source: < Yahoo