According to the corporation, Emirates Auction LLC sold plate number P 7 - which seems to be the number 7 alone, with the P off to the side - on Saturday during a charity auction.
Emirates Auctions LLC sold plate number P7 which - at first glance, looks like number 7, according to the company, P went off - during a charity auction on Saturday.
A high bidder has set a world record of 55 million durhams ($15 million or ₹ 123 crore) for a rare car license plate in Dubai. In the United Arab Emirates, a man bought a car's number plate at auction for so much money that it became a world record. According to Bloomberg, Emirates Auctions LLC sold the plate number P7 which, at first glance, looks like the number 7, P came off during a charity auction on Saturday, according to the company. Proceeds will go to the 1 billion meal endowment, the global food aid initiative of Dubai's ruler Sheikh Mohammed bin Rashid.
The UAE has made a habit of auctioning vanity plates, which are used by the ultra-rich to show off their status and wealth, for charity. The latest auction broke a record set in 2008 by local businessman Seed Abdul Ra Khoury, who bought the No. 52.2 million durhams were paid for the plate
The identity of the winner of this weekend's auction has not been disclosed.
Vanity plates have fetched mind-blowing prices even outside the Middle East: someone bought a single letter "R" plate for HK$25.5 million ($3.2 million) at auction in Hong Kong earlier this year.
For years, Dubai has been a safe haven for the mega-rich to flaunt their wealth and live a tax-free lifestyle. While other parts of the world worry about an economic downturn, the Emirate's economy remains strong as high oil prices benefit its neighbors and most important customers. The inflow of assets has made the real estate market boom.
Businessman Balwinder Singh Sahni, better known as Abu Sabah, bought Plat D5 in 2016 for 33 million durhams. "Dubai is the city of gold," he said in an interview on Monday. "It's a city of big people, safe people, nice people. So everyone wants to show their status."
Sahni recounted how when he first visited the luxury hotel Burj Al Arab in 2006, he was refused entry because his car had too many numbers on its license plate. He was told that he either needed a two-digit number plate or - reservation. He said, "It was always my dream to have a one-digit number, when I got the chance, and they told me the money all goes to charity, so I went for it." A self-described numbers UNO, Sahni said the D5 fit the plate because her favorite number is nine, and if you add D (the fourth letter of the alphabet) to five, you get nine.
Guinness World Records did not immediately respond to a request for comment.
Plates sold over the weekend can be transferred to any car registered in Emirates, Supercar or not.
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