Are you planning to sell your cherished number plate? If yes, then you will have to know its real value in order to sell it at the right price. As the name suggests, the cherished registrations are something that the owners really cherish. It is considered one of the valuable possessions that individuals have. However, at times, you may have to sell your cherished number plate due to a number of reasons.
When it comes to selling your cherished number plates, it is important to price them right. Overpricing the cherished plates will make it quite difficult for you to sell them. On the other hand, under-pricing will result in significant loss for you. Therefore, finding out the right price is vital. In order to determine the correct selling price of your cherished number plate, there are a number of factors that you need to take into consideration. Let’s take a look at each of those factors.
Age of the Number Plate
One of the important factors that will determine the value of the cherished number plates is the age of the number plates. In general, when selling something, the price usually decreases with the increase in the age of the item you are selling. However, it is not the same in the case of cherished number plates.
As a matter of fact, it is just the reverse. That means the older your number plate is, the higher its selling price will be. Dateless number plates that were issued in 1903 are the ones with the highest value. On the other hand, the number plates that have been issued recently are likely to be cheaper.
Rarity is another important factor that you must consider while determining the worth of your cherished number plate. The demand for rare cherished registrations is quite high among the people. The number of similar number plates that have been issued has a significant influence on the value of the number plates. For instance, if there are few number plates that are similar to yours, then the price is likely to be high. However, if you possess a cherished plate that is very common, then its selling price will be relatively low.
In addition to this, the rarity of the word or name present on your number plate also matters. In case the word or name present on your number plate exists on a number of number plates, the price will be less. However, if the given word or name is quite unique, then its selling price will be high.
Number Plate Style
The style of your cherished number plate also affects its price. Style mainly refers to whether the number plate has an old-style format, new-style format, or is dateless. The number plates that come with the new style are the least valuable ones. It is because it appears to be unappealing to most buyers. On the other hand, the prefix style number plates can provide you with a higher value. However, the suffix style number plates are considered to be very rare, thereby enabling you to sell them at a high price.
You may think that the numbers on your number plate have nothing to do with the value of the number plate. However, in reality, the numbers are an important factor to consider while determining the selling price of cherished plates. The number of digits present, as well as the lowness of the number, can affect the number plate value. The number plates that have fewer numbers are more appealing to people.
Moreover, numbers such as 12 and 4 seem to be more appealing in comparison to numbers 27, 23, and 400. Cherished registrations that have the number 1 are even more in demand among the people. Sequential numbers such as 123 and repeated numbers like 333 and 22 can also affect the worth of the number plates.
The popularity of the letters presented on your cherished number plates is yet another important factor to consider. There exists a certain combination of initials that are considered to be more popular in comparison to the others. For instance, the combination of initials like JPL is quite popular, and therefore its price will be high.
The number of letters present on your number plate also matters. The dateless number plates have one to three consecutive letters. But all other number plates have three consecutive letters. Therefore, the demand for dateless number plates is high among people. That means such number plates can be sold at a higher price.
Selling cherished registrations can be time-taking. However, make sure to know the real worth of the number plate before selling it. Now that you know the important factors to consider, you can easily evaluate the worth of your cherished number plate and sell it at the right price.