December 07, 2018 at 11:19 AM
Some people aren't satisfied with the standard number plate that comes with a car and would rather pay out for a personalised plate to put on their new purchase.
Personalised plates, or cherished plates as they're sometimes known, can range anywhere from £250 to the most expensive plate, the number "1", which was sold at auction in Abu Dhabi to a businessman from the UAE for an eye-watering £7 million!
Private plates are seen as the ultimate way to personalise a car - yes you can choose the colour and options from new, but there is still a chance that another person will make the same choices. Number plates are unique and putting one on your car will make it one of a kind.
There are also some practical uses for a personalised plate such as hiding the car's age and functioning as a quirky form of advertising for a business.
The personalised plate market can be lucrative with more than £2 billion estimated to have been raised by the DVLA's specialised number plate auctions over the last 25 years or so.
As a result, purchasing a private plate can be seen as an investment that can pay huge dividends if you decide to sell it and it's deemed desirable by other buyers.
One enthusiast, Steve Holden drive over 200 miles to purchase "HO11 DEN" for £7,400. He says that "once you've got one, you want to buy better ones." so they can become an addictive possession.
However, not everyone shares the same opinion and private plates are often viewed as an ostentatious waste of money for the rich and famous.
Some cherished plates really stand out when the hammer falls at a public auction for the sheer amount paid by willing buyers.
Of course, countless other plates are sold privately for big money, but with no public record of the prices paid, there's no way of knowing how much some plates are traded for.
In the UK, these are the private plates that have sold for the most money:
We've already seen the fantastic example of understated modesty from Roman Abramovich by owning "VIP 1", but there are a lot of other celebrities who have felt compelled to personalise their car with a cherished plate:
There certainly are. The DVLA will not allow anything that could be seen as offensive or obscene, so if you had dreams of a number plate that would send a rude message to the world, then you'll have to think again.
Also, it is not permitted to have a plate that makes your car look newer than it is. So, if you decide that you would like to retain the conventional age-related plate from your first car and transfer it, that is fine, as long as you transfer it to a newer car but not an older one.
Search the DVLA Registrations website to find your personalised registration.