Number Plate Valuations
There are various different methods by which vehicle owners can find out what their number plates are worth. Some car registrations can be rather valuable, especially if the number and letter combination spells out a name or a popular word. Number plate valuations can be obtained through various dealerships.
Some car registrations contain people’s names, initials or birthdates and are therefore sought after, fetching considerable amounts of money at auction and with online dealerships, who list number plates in databases that may contain as many as 30 million registrations. Motorists can search online for their favourite letter and number combination to see what is available at a price they can afford or they can participate in auctions.
For vehicle owners wishing to sell either at auction or via a regular dealership there are number plate valuations that can be obtained free and easy online. It should take no more than 30 seconds or so after typing in the car registration and email address into an onscreen box, before a valuation appears in the vehicle owner’s email message box. Ideally, whatever method is used for number plate valuations, the motorist should have a “cooling-off” period provided with their valuation, where they can make up their mind, if they wish to go ahead with the sale or search on other sites for a more favourable valuation.
The longer that period the better - 30 days is a reasonable time to find out, if other dealerships have better offers. Reputable online dealerships will only supply the regular vehicle owner with number plate valuations and will ask for proof of ownership, for example by requesting details of the A V5 logbook in the vehicle owner’s name or a valid V750 or V778 retention certificate issued with the vehicle registration.
Ultimately, vehicle owners must decide for themselves what sales price they’d like to achieve for their number plates but it helps to have a starting point before setting the asking price or determining a retention, if selling at auction. Some online dealerships also provide telephone helplines, where motorists can telephone to obtain a valuation.
In the case of personalized, cherished and dateless number plates, the value of a number plate can vary considerably and there are even trends, where certain number and letter combinations are either in fashion or have fallen out of favour. Sometimes just waiting for a month or so might increase the price. While a vast segment of car registrations will sell for a fairly small amount of money, popular number and letter combinations might fetch several thousand pounds if sold through the most appropriate channel.
Before going ahead with a dealership’s number plate valuations, it can be useful to check on the DVLA’s website what prices were achieved at their most recent auction, especially when selling a cherished, private or personalised number plate that might be rather valuable. The DVLA holds several auctions throughout the year, thereby offering a good insight into current pricing levels and trends.
Knowing the realistic market price of your vehicle registration before going ahead with a dealership is important - some not quite so reputable dealers will overvalue number plates in an effort to persuade owners to list vehicle registration marks with their website, even though the vehicle registration owners have little chance of achieving the price quoted with the number plate valuations.
Having said that, selling through an online dealership is likely to achieve the best possible price as the most established websites have thousands of people searching their webpages and any vehicle registration mark sold through them will be advertised to and seen by hundreds of thousands of online visitors every month.
Such websites usually spend quite a lot on search engine advertising, which means they will have listings on all the most popular search engines and will therefore always come up on the very first page online users see, when they type in their search words. Some of the better sites even advertise in relevant trade magazines, both online and in traditional press products.
A reputable dealer will use a number of criteria to determine a realistic market price before sending out number plate valuations to potential customers. These criteria will include:
Important to note: some online dealers have a price matching policy, meaning they offer to match or even beat any price offered elsewhere. It is therefore advisable to be realistic with expectations with regard to the final sales price, even when several number plate valuations have come in fairly high.
You will find here a few notes and forms required for the procedure to transfer a vehicle registration.
Registration marks that show no reference to the very first registration date of a vehicle.
Plates where last letter reveals the age of a vehicle.
Widely available and often less costly than dateless registrations.
An interesting opportunity to investment in some sought after number and letter combinations.