World's most expensive licence plate sells for US$15 million

Dubai at night
A license plate has sold $15 million at a charity auction in Dubai, a world record price, according to auction organizers. Photo credit: Getty Images

By Issy Ronald of CNN

A licence plate has sold for an eye-watering 55 million dirhams (US$15 million) at a charity auction in Dubai, fetching what organisers Emirates Auction say is a world record price.

Simply reading "P7", the vanity plate smashed the previous record which belonged to Saeed Abdul Ghaffar Khouri who bought a licence plate for 52.2 million dirhams (US$14.2 million) in February 2008 at an auction organised by the same company.

CNN has reached out to Guinness World Records for confirmation of the new record but did not immediately receive a response.

Proceeds from the sale will be given to 'One Billion Meals' - a campaign run by Sheikh Mohammed bin Rashid Al Maktoum, ruler of Dubai and Prime Minister of the UAE, to help vulnerable communities around the world during the holy month of Ramadan, the auction house added. The sale took place earlier this month.

Licence plates also sold for 2,950,000 dirhams ($800,000) and 140,000 dirhams ($38,000) at the auction held at the Four Seasons Hotel Jumeirah.

Overall, the auction raised more than 71 million dirhams ($19.3 million) for the campaign, the UAE state run newspaper WAM reported.

Prices for a vanity licence plate normally run considerably cheaper in the United States, although they vary from state to state.

In Virginia, a personalised plate costs $10 a year in addition to the vehicle registration and special plate fees, whereas in New York it costs $31.25 annually, as well as a $60 initial fee.

But there are still similarly expensive plates available, such as a Delaware licence plate which fetched more than $400,000 at auction in 2018. Meanwhile, a "New York" licence plate and the Volvo it's attached to has been up for sale with a $20 million price tag for more than two years.