Kippreport gets the scoop from Neelesh Bhatnagar, CEO of Emax, and Nadeem Khanzadah, head of omnichannel retail at Jumbo GroupSeptember 2, 2015 5:24
Does it matter?
AED1.52 million for a car license plate. Welcome to Dubai, where such things matter.
December 29, 2009 3:27 by kippreport
Dubai’s Roads and Transport Authority (RTA) announced that it made AED14.04 million through the sale of 90 number plates during an open auction on December 19. The sale topper was G111, which brought in AED1.52 million, according to the RTA.
It was followed by I 60, which fetched AED1.5 million, G 66666, which was sold for AED520, 000 and H 2000, selling for AED304, 000. The auction also included the sale of 15 motorcycle license plates; the highest one was 40000, which was auctioned for AED48,000. According to the RTA, more than 400 people attended the auction.
Every time the RTA announces the money they make from number plate auctions, Kipp is surprised. What would make people shell out AED1.52 million for a license plate, especially during a time when the economy is still struggling to get back on track, and when you can still see abandoned cars in Dubai.
Who really cares what number plate you have?