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Number Plate sparks bidding frenzy

 The UK name plate business is really blossoming with the turn of events in the last few months, news about the AB11 DHB plate number was turned to a massive internet buzz. The plate number was initially bought for a mere £400 from DVLA but it was auctioned again and according to reports, the price could take a massive £400,000. According to MIK Legal Consulting, the prominent bidders for the number plate are predominantly wealthy businessmen. The cost is extremely high. For UK citizens, this price would have been insane especially for the cost of living in the country, but the standard of living and cheap costs across Abu Dhabi makes this 6 figure price, a “cheap buy.”

Abu Dhabi is definitely the headquarters for the excessively rich and famous who like expensive cars and accessories. In fact, of the 50 priciest number plates ever bought, more than 70% of the owners are residing in Abu Dhabi in the United Arab Emirates. The cost is not a big deal, apparently, and it is more important for these rich people to get a status symbol. Wealthy Emiratis are more than happy to give money if they could get what they want. It may sound extremely frivolous but this is great news for the number plate industry as it really generates immense revenue.

The interest in British plates could be associated to the fact that a great number of UAE citizens spend most of their time in the UK and with the intense summer heat in the country, they prefer enjoying the cooler climate in the UK and bring along their families and of course, their expensive cars with the expensive UK plate numbers.  Frivolity, some people might say, but if it generates income, it sure is money well spent on the side of DVLA.