On Tuesday, a collection of Victoria’s rarest licence plates is set to ignite a fierce bidding war, with replicas expected to fetch hundreds of thousands of dollars. Sixteen handcrafted enamel plates, designed in the style of 1930s registration plates, will go under the hammer, attracting motoring enthusiasts and collectors alike.
These plates, featuring numerals only and a vertical “VIC” insert on the left side, are replicas of the limited number combinations issued before Victoria transitioned to alphanumeric plates in 1939. With only 285,000 such combinations ever produced, the auction is drawing significant interest, especially for numbers closer to 1, which historically command higher prices.
Plate “20” sold for $2.54 million in June last year, plate “14” went for $2.27 million in 2022, and plate “96” resold for $1.472 million earlier this year, having changed hands for $830,000 in 2022.
Historical Significance and Market Trends
The allure of these heritage plates is deeply rooted in their historical significance and the growing popularity of custom plates in Victoria. The plates up for auction include numbers like 488, 899, and 100989, among others. The value of these plates is often determined by their numerical sequence, with combinations featuring lucky numbers or elegant symmetry being particularly sought after.
Giles Thompson, Chief Executive of VicRoads registration and licensing services, noted that these plates are more than mere registration numbers. “They’re a statement of style, authenticity, and craftsmanship,” he said. “Heritage plates are the showpiece of Victorian licence plates, and some are worth more than the cars they’re attached to.”
The average price for a Victorian three-digit plate sold this financial year is $380,000.
The Auction Scene
The auction, hosted by Heritage Only, promises to be a spectacle. Ramy Attia, the owner and founder, has facilitated the sale of over $17.5 million worth of licence plates over the past five years. He describes the plates as appreciating assets, contrasting them with vehicles that typically depreciate over time.
“Most cars depreciate over time, depending on what vehicle it is, while these plates have a track record of being appreciating assets,” Mr. Attia explained. He cited an example where a three-digit plate bought for $5,000 in 1984 could now sell for $500,000.
David Ginnane, VicRoads Chief Commercial Officer, described the auction as a thrilling event. “They’re very rare, very iconic and steeped in Victoria’s motoring history,” he said. The event is not just about the auction itself but also the impressive display of luxury cars outside, often with plates worth more than the vehicles.
Collector’s Dreams and Future Prospects
Among the plates, number “488” is anticipated to be the most valuable, especially for owners of a Ferrari 488 Spider. “It’s a collector’s dream to have a plate that matches the car model,” Mr. Attia said, emphasizing the uniqueness of owning such a combination.
All 500 tickets for the live auction at the Park Hyatt Grand Ballroom have been sold, but registered bidders can still participate online. The auction not only highlights the cultural and historical value of these plates but also underscores a growing trend in collectible investments.
As the auction unfolds, the outcome will likely set new benchmarks for the value of heritage plates, further fueling the interest in these unique pieces of motoring history. The results could influence future auctions and the broader market for collectible licence plates.
