The craze for fancy number plates has increased a lot in recent times. Among different types of fancy number places, personalized or private number plates tops the list. Having a personalized number plate gives a unique touch to your vehicle and enhances its overall value. However, at some point in time, you may want to sell your number plate. It may be because the number plate no longer holds the same personal value, or you want a good return on your investment.
Irrespective of what your reason is, selling the private number plates can be a little challenging. However, to make it easy for you, here are some quick and effective tips for selling the number plates at the best price.
Determine if the number plate can be sold legally
When you want to sell a number plate, the first thing to do is make sure that you are adhering to the DVLA rules. Check the paperwork first. If the paperwork of the number plate states that it is non-transferable, then you will not be able to sell it legally. However, if the term ‘non-transferable’ isn’t there in your document, you can move ahead to sell the number plate. But the vehicle must be registered with your name in order to avoid any legal consequences later on.
Ensure proper valuation of your number plate
When you are sure that you can sell the number plate, it’s time to get it valued to ensure selling it at just the right price. For this, you will have to spend a good amount of time in market research. Without proper research, you are likely to fix a price that is either too high or too low. Both can be disadvantageous for you. For instance, if you value the private number plate too high, it may take a long time to be sold. On the other hand, if you price the number plate too low, it can lead to bitter disappointment, and your returns will be very low. So, the correct valuation of the private number plates is important.
In order to determine the right price, look at what is trending in the market currently. If the design and style of your number plate are in high demand, you can price it more. Also, consider checking the selling prices of similar number plates. Another way to find out the right price to sell your number plate is to get it valued by an expert. The professionals are well-versed with the market trends and recommend you the best price for an easy sale.
Advertise the number plate
Many people have a perception that they can easily sell the number plates to the DVLA. However, it doesn’t actually work that way. The DVLA does sell the private number plates, but they may not buy them back. You can only contact DVLA to get valuable insights and suggestions. So, in order to sell them, you need to advertise them as much as possible. There are a lot of sales websites available such as eBay, Friday-Ad, Preloved, Gumtree, and more. Make sure to get your number plate listed on the top eCommerce platforms.
Advertising on more platforms can help in enhancing the visibility of the number plate. On the basis of how much the demand for the number plate is, people are likely to engage in a bidding war, and you can get a great price. While advertising, make sure to provide all details of the number plate along with its photo. For instance, if the number plate is meant for a specific group of people such as professionals or celebrities, do mention that in your advertisement. This will ensure that only the right buyers come to you.
Contact Buyers Directly
When you start advertising your number plate, many buyers may show an interest in buying it. If you have advertised through a reputed dealer, you are likely to get thousands of potential buyers. Make sure not to close the deal with the first or second call. Instead, you need to be patient and wait for the right offer. Do not rush on the sale.
When you have a long list of buyers, try doing some research about the buyers and then start contacting them. If you do not want to call all of them, you can simply drop them a message to gain more insights on why they are interested and how much they are willing to pay. Only when you get the best offer that suits you, seal the deal and sell your private number plate.
Selling private number plates is time-consuming and complicated but not impossible. Following these simple yet effective tips can help you sell the number plates at the best price. The demand for personalized number plates has been quite high in recent times. So, you may not find it much difficult and get them sold easily.