Not only is valuing a personalized number plate a simple process, but also a very difficult one at the same time. Are you confused yet? It will all become clear in just a moment. On occasion, certain people become somewhat upset upon discovering that their prized number place is in fact worth the same as what they initially paid for it. On the other hand, others are floored when they find that the actual value this ordinary piece of plastic now holds. For this discussion, let us only consider those plates referred to as "cherished number plates" - that is, the personalized number plates which do not contain a letter representing the year to indicate the release date.
Trying to estimate the worth of a personalized plate is akin to estimating the value of almost any other asset. There is specific criteria to take into consideration, most important of which is rarity. Some other factors will include popularity of numbers and letters, the age of the registration, how many similar plates have been released and currently are for sale, and the demographic of buyers in the market. So, determining the value of your plate comes down to a calculation based on a multitude of factors and multiplied. A little later in this article we will address some other unusual criteria at could potentially come into play.
Let's use the analogy of selling a property to put things into perspective. An appraiser wouldn't just make up a value figure based on which way the wind was blowing - he would look at all the factors involved. From the number of other properties available in the same neighborhood to the condition of the property itself, each factor would represent a dollar amount. Just like when valuing a personalized number plate, the property appraiser would multiply every factor to come up with the overall worth. To simplify this even further, let's categorize the valuing strategy for number plates. Generally, the fewer characters on the plate, the more valuable it is. However, each category could have a direct bearing on any one of the others - or all of them!
Demographic - Generally the most popular age of a private number plate owner is between 25 and 55. There are owners outside of this range, but generally these are the most popular ages for ownership. You will notice the term owners rather than buyers was mentioned because buyers can be of any age especially when purchasing a plate as a gift.
The Letters - Some letters or initials are much more popular than others. It's not hard to understand that there are more people with the first letter "A" than there are "E" Think how many Andrew's, Adrian's, Alan's, Alistair's, and Anthony's you may know and then turn your attention to Edward's, Ernest's and Elliot's in your phone book. A is more popular than E. If you try to think of names starting with "U", then you will probably find that there's no one you know. Obviously two letter plates will provide many more interested parties than a three letter combination; whether or not the purchaser has a middle initial, a two letter combination will always suit.
Rarity - Just like any collectible item, the more rare the registration the higher it is valued. Keep in mind though, that rarity and popularity often have a direct impact on one and other.
The Age of the Registration - Generally, older number plates attract higher values, as there are less of them still in existence. Some customers like to buy very old original release registrations rather than more recent auction releases. Most, but not all, of the registrations sold at auction are what we call reverse number plates. This means that the numbers come before the letters on the registration plate. A similar analogy would be a home buyer looking for an original Tudor property for restoration rather than buying a modern day replica with its obvious benefits. As with properties, they are less abundant and so, yes, you guessed it, up goes the price. So after this category, you should now know whether DAN 33 or 33 DAN is the most valuable.
The Numbers - This is probably the easiest category to understand. Simply speaking, 777 DAN is more valuable than 839 DAN. There are exceptions to the rule though. For example some of the most expensive number plates on sale can have numbers that will appeal to certain motorists due to the model of the cars they drive, for instance 911, 328, 355 and 550. Although these can command higher values it's worth noting that some of the model numbers are more abundant than others which leads to a higher demand.
Is That a Celebrity? As promised earlier, now is the time to bring up the aforementioned exception to all of these rules. There is one occasion that warrants the value of a private registration to go well above expectations. That is - a celebrity plate. Either a plate that was featured in a film or commercial, or a celebrity owner will distort the value of a personalized number plate significantly. Take for instance the three Mini Coopers used in the movie, "The Italian Job". One nondescript registration - HMP 729G went from being valued at a couple of hundred pounds to selling at a plate auction for over 4000 pounds!
So there are the basics for making a personalized number plate valuation. Just remember to take into consideration ALL of the factors before you come up with your final number!
Trying to estimate the worth of a personalized plate is akin to estimating the value of almost any other asset. There is specific criteria to take into consideration, most important of which is rarity. Some other factors will include popularity of numbers and letters, the age of the registration, how many similar plates have been released and currently are for sale, and the demographic of buyers in the market. So, determining the value of your plate comes down to a calculation based on a multitude of factors and multiplied. A little later in this article we will address some other unusual criteria at could potentially come into play.
Let's use the analogy of selling a property to put things into perspective. An appraiser wouldn't just make up a value figure based on which way the wind was blowing - he would look at all the factors involved. From the number of other properties available in the same neighborhood to the condition of the property itself, each factor would represent a dollar amount. Just like when valuing a personalized number plate, the property appraiser would multiply every factor to come up with the overall worth. To simplify this even further, let's categorize the valuing strategy for number plates. Generally, the fewer characters on the plate, the more valuable it is. However, each category could have a direct bearing on any one of the others - or all of them!
Demographic - Generally the most popular age of a private number plate owner is between 25 and 55. There are owners outside of this range, but generally these are the most popular ages for ownership. You will notice the term owners rather than buyers was mentioned because buyers can be of any age especially when purchasing a plate as a gift.
The Letters - Some letters or initials are much more popular than others. It's not hard to understand that there are more people with the first letter "A" than there are "E" Think how many Andrew's, Adrian's, Alan's, Alistair's, and Anthony's you may know and then turn your attention to Edward's, Ernest's and Elliot's in your phone book. A is more popular than E. If you try to think of names starting with "U", then you will probably find that there's no one you know. Obviously two letter plates will provide many more interested parties than a three letter combination; whether or not the purchaser has a middle initial, a two letter combination will always suit.
Rarity - Just like any collectible item, the more rare the registration the higher it is valued. Keep in mind though, that rarity and popularity often have a direct impact on one and other.
The Age of the Registration - Generally, older number plates attract higher values, as there are less of them still in existence. Some customers like to buy very old original release registrations rather than more recent auction releases. Most, but not all, of the registrations sold at auction are what we call reverse number plates. This means that the numbers come before the letters on the registration plate. A similar analogy would be a home buyer looking for an original Tudor property for restoration rather than buying a modern day replica with its obvious benefits. As with properties, they are less abundant and so, yes, you guessed it, up goes the price. So after this category, you should now know whether DAN 33 or 33 DAN is the most valuable.
The Numbers - This is probably the easiest category to understand. Simply speaking, 777 DAN is more valuable than 839 DAN. There are exceptions to the rule though. For example some of the most expensive number plates on sale can have numbers that will appeal to certain motorists due to the model of the cars they drive, for instance 911, 328, 355 and 550. Although these can command higher values it's worth noting that some of the model numbers are more abundant than others which leads to a higher demand.
Is That a Celebrity? As promised earlier, now is the time to bring up the aforementioned exception to all of these rules. There is one occasion that warrants the value of a private registration to go well above expectations. That is - a celebrity plate. Either a plate that was featured in a film or commercial, or a celebrity owner will distort the value of a personalized number plate significantly. Take for instance the three Mini Coopers used in the movie, "The Italian Job". One nondescript registration - HMP 729G went from being valued at a couple of hundred pounds to selling at a plate auction for over 4000 pounds!
So there are the basics for making a personalized number plate valuation. Just remember to take into consideration ALL of the factors before you come up with your final number!
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