The "F1" UK License Plate Is for Sale for $20M
License plates work a bit differently in the United Kingdom. Unlike here in the States, plates are owned by individuals, and can be bought or sold. The most money ever paid for a plate was around $730,000 by Ferrari dealer John Collins in 2014 for "25 O," placed on a Ferrari 250 SWB once owned by Eric Clapton.
This plate might sell for a little bit more than that, though. "F1," currently owned by Kahn Design and Chelsea Truck Company founder Afzal Kahn, has been listed for sale on regtransfers.co.uk for no less than £12,009,995 ($16,96,918 at current exchange rates). Add in the required £16.66 transfer service fee, 20-percent VAT of £2,402,002, and £80 DVLA transfer fee, and you're looking at the equivalent of $20,300,443. And I thought the $244 two-year registration fee for my custom plate was a lot.
Kahn paid £440,000 ($619,771) in 2008 for the F1 plate, according to Carscoops. It's been spotted most recently on his personal Bugatti Veyron. For context, you can purchase around 14 and a half Pagani Huayras or 802 brand-new Miatas for the price of this license plate.
Would you pay $20 million for a license plate? If not, what would you buy instead? Let us know in the comments below.
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