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What is my number plate worth?

Valuing number plates is more of an art than a science- there are so many different combinations and considerations that there is no hard and fast rule to get the most accurate appraisal or your number plate’s value

Basically there are five main areas to consider

  1. The meaning of the plate
  2. Is it a short / neat combination
  3. Does it need modification
  4. How much did you pay for it
  5. The value of similar plates

The meaning of the plate

A number plate which is relevant to a popular model of car - such as "M3" BMW number plates for BMW M3's - will have a larger number of potential buyers than a number plate for a low production vehicle such as a Bugatti.

Number plates which spell words can be worth a lot of money but it depends on the word and why someone would be interested in it - clearly words such as sexy or cool have a wider appeal than "BRE4K" which is currently on a Bentley continental Flying spur.

Is it a short or neat combination?

F1 sold for an astronomical amount of money - because it's relevant to F1 but more so because it is a 2 digit number plate. The fewer digits your number plate has, the higher it’s potential value.

Aside from length a number plate with repeated characters or numbers can have a higher value- think 666 / 888 or AAA - these plates will carry a premium.

Does it need modification?

Now illegal number plates are ILLEGAL! - The DVLA frown upon mis-spacing number plates and the police are tightening up and "pulling" more vehicles with dodgy spacing and funny fonts.

Selling a number plate on the basis it needs to be mis-represented is a risky business and will ultimately have an adverse affect on the value of your number plate-.

How much did you pay for it?

Always a good starting point when trying to assess the value of anything. How much did YOU pay and how long ago was the purchase?

The value of similar plates

If you own the number plate J1MBO and know that J11MBO sold recently for £12,000 then you have a good marker that your number plate with fewer digits will no doubt be worth more than £12k

The DVLA auction website allows you to check prices of lots from past and future auctions; and a quick visit to some key number plate dealers will help you gauge roughly what your plate is worth.

Ultimately your number plate will be worth what someone is willing to pay- as with anything it's worth building a buffer into your asking price to help with bartering.

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