The current private number plate market.
How is the situation in the current private number plates market? After many years of constant growth and increasing values the market for private number plates has been hit by the economic downturn caused by the credit crunch, on the other hand there has been a recent reduction in value added tax from 17.5% down to 15% which has helped reduce prices. Generally sales slowed in the second half of 2008 much in line with the reduction of sales of new cars, however, bizarrely, prices paid for top end personalised number plates hit new records with F1 fetching £440,000 and S 1 almost £400,000. Demand in the run up to christmas was steady but not good, way down on previous years. Sales for the beginning of 2009 have started badly and it will be interesting to see how the first auction of 2009 goes when it starts on Wednesday 28th January. It is strange that it is probably a good time to buy now as the vat reduction has reduced the price to pay for those not vat registered and dealers are hungry for sales so prices can be negotiated down to a bargain price. Numbers bought now should turn a handsome profit when the market rises again, assuming the downturn is a temporary setback.
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