Personalized plates are increasingly popular and it is estimated that 1 in 8 cars now have a personalized number plate. United Kingdom in a record £ 87 million in 2007 was spent on personalized license plates. There has been quite an increase since 1997 when 36 million pounds was spent – an increase of £ 51 million over 10 years.
Why so popular?
There are two reasons why many cherished plates are indeed very precious, and because it is a great investment, and two that gives the car a more personal touch.
The most paid for a personalized plate number was at an auction for a staggering £ 254,000. Despite the depreciation of the vehicles since they are removed from the forecourt of a garage car sales custom plates are not. The plates have a precious historical value and in fact appreciate over time so it can be a great investment.
(more…)