That could buy one big car collection.
The world of number plates can be an investor’s dream. Certain plates only seem to go up in value and don’t fluctuate, just ask Afzal Kahn, Owner and Founder of A Kahn Design. His ‘F1’ number plate is worth a considerable amount, and to him it’s worth more than £6 million.
In 2008, Afzal Kahn purchased the ‘F1’ registration plate for a mere £440,000, making it the highest price ever paid to a dealer. The funds from the sale at the time were used by the Essex County Council to fund a charity aimed at raising the standards for young drivers.
The popularity and value of the iconic number plate has increased in the past few years. In late 2012, he turned down an offer of £5 million for the plate. Now, he’s just refused an offer for £6 million (approx. $9.3 million), believing it to be worth more.
“We have received a significant multi-million pound offer for the F1 plate which we rejected out of hand,” said a spokesman for Afzal Kahn.
“Mr Kahn has no interest in selling F1, which is his favorite plate.
“Cherished number plates, unlike property or other investments tend not to fluctuate in value, they only go up.
“It really shouldn’t be a shock to people that the number plate is worth millions of pounds.”
The number plate is only going to increase in value as time passes. With Kahn’s reluctance to sell his favorite plate, expect it to be a long time and take a lot of money for it to change hands.