If you have a private number plate and you are looking to sell it, then it is advantageous to know how much the plate is worth before putting it on the market. Certain types of number plate are more likely to sell for a lot, for example, plates with common names, words and initials often are successful at auction. This means that you don’t want to be underselling your product and ensure that you make as much profit as possible.
Opposing this, you also do not want to over-estimate how much your plate is worth and try and try to sell it at a sky-high price that no one is willing to pay.
Not only will this mean that you will potentially lose out on a sale, but it could mean you build up a bad reputation in the industry and buyers are less likely to use you in the future. If you want to sell your plate, there are some essentials you should know first…
Names and Initials
One of the most sellable types of number plate is one with a popular name on. That’s because if it’s a common name such as ‘John’ or ‘Kate’ it is likely that there will be more people that want to buy it.
Similarly, popular initials are just as valuable, so if you have a plate with initials such as ‘J.K’ then it is possible to put a high price on it.
These days, more and more children are being given unique names, therefore it may it possible that there could be a big change in the market in coming years. It might be an investment to consider now for the future.
Will popular words increase my plate value?
Furthermore, it isn’t just names that you will find people want to buy, but popular words will also pick up some interest on the market. A number plate that resembles the word ‘King’ fetched several thousand at auction in recent years, so if you’ve got something that people really want, make sure you’re selling it for the right price.
Will the age increase its value?
A number plates age also needs to be taken into consideration when it comes to its value. Usually, older number plates are more desirable because plates released before 1963 ae known as ‘cherished number plates’.
These plates are sought after because they are dateless and therefore they can be used on a car and you won’t be able to identify the age as long as the vehicle is in a good condition.
Opposing this, the current style of number plate is less popular, this is because they have a date on and more characters so there is little room for personalisation. If you have a new plate, it is rare that it will sell as well as a cherished plate, but it is still worth being valued.
How can I find out how much my plate is worth?
There is no single factor that decides how much your number plate is worth, various things such as its age, word resemblance and popularity are all factors that need to be considered when making a valuation.
One of the quickest ways to find out how much your number plate is worth is through an online valuation calculator. There are several of these on number plate sales websites and they can give you an estimate of how much you should be selling your plate for.
From here, you can then choose the best platforms to sell your plate on, whether that be through private websites, auctions or through your own means.