Pricey private plate

[Mart65]

Hi, hoping to get some feedback from anyone who’s sold an expensive (£50k-ish in this case) private number plate.

My dad passed away last year and his private plate passed on to my brother and I. We got it valued as part of the inheritance tax part of things and it was £50k+ from all 3 that we got valuations from.

It meant a lot to him but we want to sell it on because it’d be tough to decide who had it and it’s a lot of money.

I put it on a couple of sites, right reg was one of them but nothing came of it (probably what I’d expect) except a broker called me about someone he had who might want to buy it but that went cold.

If anyone has any knowledge or experience of this what’s the best channel to sell this through? I’m sure they’re not the most liquid of assets but how long do they typically take to sell?

My personal experience is that I’ve bought a few reg plates through the years but only from DVLA for maybe £250 max.

[Mart65]

Jordie Barretts sock said:

It'll be a tough sell as everyone is tightening their belts.

Personally I'd either share it between you for a while (if you are so inclined) for the cost of an £80 swap. Or put it on retention and let the value accrue until the economic climate improves.

Thanks, that sounds like the sensible thing to do. I’ve got it on retention at the moment but even when things are good I’ve no idea how long these things take to sell at that price point - I imagine it’s not like a house or something where it looks bad if it’s on the market for a while but maybe it is.

Voice of reason though thanks I appreciate it. No panic selling

[Mart65]

Pflanzgarten said:

Try dateless registrations on Facebook, in my experience the type of people who would buy a £50k plate are certainly not tightening their belts.

The above firm/group do get good results.

Thanks I’d not heard of those, will check them out. It’s an odd one with belt tightening isn’t it? It wasn’t such an ostentatious buy when my dad got it - I think it was the 70s when he started his business that he got it and it became very personal to him. Literally a ‘cherished plate’ like they call them - I’ve never felt that way about a private number plate so I can’t relate but if someone is being careful but not struggling then yes I can see they’d still swoop for something if it’s the right fit for them.

Will see how it goes, just want to make sure I’m giving it the best chance of selling.