Number plate set to fetch over $1.3 million as lucrative Aussie trend soars
Heritage plates have sold in Australia for millions. Now another sought-after number plate in South Australia is set to fetch an eye-watering price.
If you've got your eye on picking up a rare heritage number plate, right now might be your chance with an auction for the lucky "number 8" in South Australia closing on Monday night.
Previously, Yahoo News Australia explained the demand for heritage plates can see them fetch millions at auctions across the country as the lucrative trade continues to grow among car lovers.
The sought-after '8' number plate became available for the first time in February this year, and after the online auction went live late last month, the leading bid on Monday morning was $1.32 million with the auction closing at 7pm (local time).
It is a record price for a South Australian number plate, with the previous highest being for a bespoke "Number 1" plate commemorating the Adelaide Grand Prix, which fetched $593,000 in 2020.
What are heritage plates?
Anything from 1 up to 285,000 is considered a heritage plate with single digits the most sought-after. Victoria and NSW drive much of the demand for heritage plates but they are available across the country.
Anyone can purchase the rights to a numeric plate, however the plates can only be affixed to a vehicle that is registered to the state in which it belongs.
While spotted regularly on the roads, they're pretty hard to snap up, Ramy Attia, from Heritage Only, previously told Yahoo News Australia.
"Quite commonly, all the single digits are sort of held tightly by families and they usually get passed on from generation to generation," he said. "So it's very rare for any of these ever to actually hit the market and become available for purchase.
"Basically, once you have it, you'll be holding on to it for a lifetime."
Biggest selling heritage number plates in Australia
The South Australian No. 8 plate was first issued to Arthur Earnest Ayers, son of businessman and politician Sir Henry Ayers, in 1906. More than a century later, the plate is being auctioned off on behalf of the South Australian government.
"Eight is a bit of a symbol of prosperity and wealth. So the Asian culture resonates with the number eight quite well," Attia said. While in some numerology schools, it represents strength, prosperity and victory."
Earlier this year, Victoria’s "luckiest" number plate sold for an eye-watering $230,000, more than quadrupling it's previous sale price. The ‘888-888’ number plate — which has been privately owned for the past 30 years — was bought by an anonymous buyer in February.
While in New South Wales number plate 'NSW 1', which had been "tightly held for decades", surpassed its $10 million estimate and sold for a humungous $12.4 million in January.
Why are heritage plates so sought after?
The record-breaking sale prices speak to the growing interest in heritage plates across the country.
Plate enthusiast and collector Lachlan Quayle said "it's the rarity and the stories behind them" that make them so appealing, plus they're considered a great investment and have a certain level of prestige to them.
"Either the family or a business person owns the plates because some of them are quite expensive. They've got a lot of stories behind them," Quayle told Yahoo.
"We've seen plates shoot up 200 per cent (in value) in a two to three-year period. And with that attracts more people into the market," Attia said.
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