License plate with unique number sells for a price higher than an apartment in New York City

While the world marvels at tech billionaires , most can't even imagine the staggering wealth they hold. We only get glimpses of their fortunes when they make outrageous purchases or splurge on something trivial. A license plate number was purchased in Dubai for a whopping $15 million. The plate with the number 7 set the world record, as per the auction's organizers.

License plates worth more than a house

The auction house, Emirates Auction, which specializes in cars and license plates, sold the plate in April last year at the auction held at the Four Seasons Hotel Jumeirah. Buyers could bid on distinguished number plates in the United Arab Emirates. The number 7 was a sought-after plate that had to be registered as "P7' to follow the format of Dubai license plates.

In August 2024, the median listing home price in New York was $799,000.

The buyer who paid 52.2 million Dirhams (~$ 15 million at the time) for the plate remained anonymous. CNN reported that the plate could be transferred to any car registered in the Emirate.

The auction house previously held the record for selling the number "1" license plate for 52 million dirhams, or about $14.2 million to Saeed Abdul Ghaffar Khouri in 2008. The record was recognized by the Guinness Book of World Records as well, but their current record sale beats that amount by $800,000.

Some other expensive license plates at the event were sold for 2,950,000 dirhams ($800,000 at the time) and 140,000 dirhams ($38,000 at the time).

The auction house said that the proceeds from the sale would go to the “One Billion Meals” campaign run by the ruler of Dubai and Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum.

The auction of special license plates are held in other countries as well. Last year, a Lunar New Year auction of several vanity plates was held in Hong Kong. In the event, a plate with the letter "R" went for  25.5 million Hong Kong dollars or about $3.25 million as per local news outlets . Back in 2021, the letter "W" was bought in Hong Kong for $3.3 million as per the country's Transportation and Logistics Bureau .

More recently, a rare South Australian number plate was sold for a staggering $2.3 million in an online auction. As per the Australian Broadcasting Corporation , the number plate 8, was one of the first numeric plates issued in 1906, making it a prized possession.

How do you get vanity plates in the U.S.?

Vanity plates in the U.S. typically cost far less. Citizens can apply for vanity plates online, by mail or by visiting the DMV in person. They would need to pay an upfront cost and an annual fee. In New York, drivers need to pay $60 up front and $31.25 annually. For motobikes, the up front fee is $35 and the annual cost is of $18.75, as per the official website.

However, there are some rules that need to be followed to get the plates approved. As per the official website, the license plate should not give the appearance of an official plate or like the word "POLICE". It should also not be obscene, offensive or derogatory.