How to Sell a Private Number Plate to Boost your Income

Have you ever pondered over the idea of turning your number plate into a neat pile of cash? If so, you’re certainly not alone!

Every day, countless individuals across the UK, from first-time number plate buyers to experienced traders, are realising that there’s more to their personalised plates than meets the eye.

During the financial year 2015/16, the bustling trade of private number plates hit a staggering high of £102 million in the UK, marking a significant 19% upswing from the previous year.

This upward trend isn’t surprising when you consider that the country is home to more than 45 million personalised private number plates alone.

In fact, it’s as though two out of every three people own a personalised number plate, giving the number plate buy and sell market a lively pulse.

A personalised number plate isn’t just about distinguishing your vehicle from the rest. For many, it serves as a unique emblem, a marker of their distinct personality or achievements. Over the past few decades, the DVLA has observed an unprecedented boom in the sales of these personalised registration plates alone.

But there comes a time when every car owner considers selling their personalised plate. Much like any other valuable asset you possess, the trick is to ensure you get the best possible price when you do decide to sell it.

But what’s the best place to sell a private number plate? How do you navigate the complex process of selling a number plate? This guide is here to provide guidance on the best ways to sell the registration mark of your car.

Exploring the Appeal of Cherished Number Plates

To kick things off, let’s demystify the term ‘cherished number plate’. Put simply, a cherished number plate is an older private number plate, comparable to a cherished antique tucked away in your attic.

These are plates that do not display a year code, making them ‘dateless.’ These unique plate numbers for sale were first issued before 1963 and are often found adorning classic vehicles.

However, it’s worth noting that cherished private registration plates can also encompass newer, highly sought-after private plates.

The term ‘cherished perfect plate’ is used because these plates have often been in circulation for several years, if not decades.

Their ownership may have been passed down through a family for generations, making them all the more special. Cherished number plates come in a variety of formats:

• A 12
• A 1234
• AA 12
• AA 123
• AAA 12
• AAA 123

In later issues, many of these numbers were reused but with the number first, such as ’12 A’ or ‘123 AA’. Lots of people like these number plate formats as they hide the age of the vehicle due as they are dateless plates.

Understanding How Number Plate Prices Are Decided

When it comes to selling personalised number plates, they’re big business in the UK.

Back in 2014, a Ferrari dealer by the name of John Collins bought a number plate “25 O” for an eye-watering £518,000, setting a new record for the most expensive private plate in the UK.

But how is a private plate’s worth determined? Essentially, a private plate is worth what number plate buyers are willing to pay for it, and the market for your personal plate also plays a pivotal role.

To ascertain the value of a private plate, several factors come into play:

• Rarity
• Age
• Market demand
• Registration length
• Price comparison
• Desirability or novelty

How Much Personalised Number Plates Are Worth

Plates with random numbers, fewer characters, a shorter registration length, or those that incorporate a popular phrase or word often prove most appealing to number plate buyers.

However, it’s worth noting that the demand for private plates can fluctuate quite quickly. So before putting up your number plates for sale, it’s crucial to get an accurate and up-to-date valuation of competitive prices.

As an illustration, let’s explore some examples of personalised plates and their potential values:

• Single letter suffix combinations (for example A 123) – £1,799 – £600,000
• Single letter suffix combinations (for example 123 C) – £1,599 – £500,000
• Double letter prefix combinations (for example AA 123) – £799 – £200,000
• Double Letter suffix combinations (for example 1 AB) – £699 – £150,000
• Triple letter prefix combinations without year letters (for example AAA 1) – £699 – £75,000
• Triple letter combinations with prefix year letters (for example A1 AAA) – £199 – £6,599
• New style registrations (for example AA11 USA) – £150 – £4,999

The above valuation ranges should give you a ballpark figure of what your number plate could be worth.

However, for a more precise valuation, you can use free online tools such as those offered by National Numbers or SwiftReg.

Where to sell Private Number Plates

Now that we’ve talked about cherished number plates and how much they cost, let’s look at the different places you can sell your own number plate

Online Auction Sites:

For beginners dipping their toes into the realm of number plate selling, online auction sites like eBay and Gumtree can be a fantastic starting point. These platforms not only have millions of active users but also offer a ready market for personalised number plates.

If you’re considering selling through eBay, we recommend using the aforementioned free valuation services from National Numbers or SwiftReg. These will help you gauge an appropriate starting price for your bidding process. However, bear in mind that slow sales months could result in fewer or lower bids.

DVLA Authorised Dealers:

Another safe and reliable method for buying and selling of a number plate is through DVLA authorised dealers. These are experts in the trade, offering free valuation tools that let you know the estimated value of your private plate before selling. They also manage the sale, the payment, and the transfer of the private plate, in return for a small fee.

Private Sale:

Apart from auction sites and DVLA authorised dealers, you can also sell your private number plates yourself, by advertising on social media platforms and group chats. Although this route might take longer, the potential for profit can be higher.

Final Thoughts…

A personalised number plate is a valuable asset. Therefore, it’s crucial to research extensively online before selling it.

Whether you’re considering selling a number plate or becoming a number plate buyer, this guide will help you navigate the whole transfer process much more smoothly and successfully.

Always remember to notify the DVLA once you successfully sell your private plate, keeping all transactions legal and transparent.

Frequently Asked Questions 

In this section we answer your frequently asked questions about selling private number plates.

How to sell a private number plate in the UK?

Selling a private number plate in the UK is quite straightforward. You can choose to sell your private registration plate on online auction platforms such as eBay or Gumtree, through DVLA authorised dealers, or even by advertising on social media platforms and group chats.

Can I sell my personalised number plate?

Absolutely! A personalised number plate is your personal property and you have every right to sell it whenever you want. Just ensure you comply with all the legal formalities and DVLA regulations.

What is the best way to sell a number plate?

The best way to sell a number plate can vary depending on your specific needs. If you’re looking for a quick sale with a wide audience, online auction sites might be your best bet. For those who prefer a more hands-off approach, selling through a DVLA authorised dealer can be more suitable.

How much is my number plate worth?

The value of your number plate can vary significantly, depending on factors like its rarity, age, market demand, registration length, and desirability. Free online tools offered by National Numbers or SwiftReg can provide an accurate estimate.

How to transfer a private number plate?

Transferring a private number plate involves completing a V317 form, which is available on the DVLA website. This form is used to apply for transferring a private registration number from one vehicle to another.

How to retain a number plate?

To retain a number plate, you need to apply for a retention document using the V317 form. There’s usually a fee involved in retaining a registration. After applying, the DVLA will provide you with a V778 retention document proving you still have the rights to the registration.

Where can I sell my number plate?

You can sell your number plate on various platforms. These include online auction sites like eBay and Gumtree, DVLA authorised dealerships, or through a private sale, such as advertising on social media platforms.

What is the process of selling a number plate?

Selling a number plate involves determining its value, choosing a selling platform, and complying with DVLA regulations. The selling platform may be an online auction site, a DVLA authorised dealership, or a private sale. Once a buyer is found, the DVLA must be notified to legally transfer the plate’s ownership.

Do I need to notify DVLA when I sell my private number plate?

Yes, it’s essential to inform the DVLA once you sell your private number plate. This helps keep all transactions of private registrations legal and transparent, ensuring a smooth transfer of ownership.

How long does it take to sell a private number plate?

The duration it takes to sell a new private number plate can vary. It depends on the platform you choose to sell, the demand for your specific number plate, and how competitively it’s priced. A popular plate, priced correctly, can sell very quickly, while more niche plates may take longer.

Can I sell my private number plate if it’s currently on a vehicle?

Yes, you can sell your private number plate even if it’s currently in use on a vehicle. However, you need to assign the registration number to a vehicle or place it on retention before it can be sold.

Can I sell a number plate without a car?

Yes, you can sell a number plate without a car. You’ll need to transfer the number plate from the car to a retention document, which allows you to sell the number plate separately from the vehicle.

Can I sell a number plate on behalf of someone else?

Yes, you can sell a number plate on behalf of someone else, but you must have their permission. The owner of the other registration plate needs to sign any necessary paperwork and will need to be involved in the whole process.

What makes a number plate valuable?

Several factors can make a number plate valuable. These include its age, rarity, and desirability. Number plates that represent popular words or phrases, or have fewer characters, can be particularly valuable.

How can I get the best price when selling my number plate?

To get the best price when selling your number plate, it’s essential to understand its value. Using a valuation tool can help determine a fair price. It’s also beneficial to sell on a platform that reaches a broad audience, such as online auction sites or through a DVLA authorised dealer.

Can I sell my number plate back to the DVLA?

The DVLA doesn’t buy private number plates. If you want to sell your private plate, your best options are online auction sites, DVLA authorised dealers, or other private registration plate sales.

Is it legal to sell number plates?

Yes, it’s entirely legal to sell number plates, as long as you comply with DVLA regulations and guidelines. The number plate must not be altered to misrepresent the format of the plate, and it must not misrepresent the age of the vehicle.