Chandigarh: Man buys ₹15L number plate for scooter worth ₹55,000
What's the story
In Chandigarh, value of a vehicle is no longer determined by make, but by digits on its license plate. An analysis of auction data from the Registering and Licensing Authority shows that residents are paying exorbitant amounts for single-digit registration numbers. The trend has seen some residents pay over 20 times their vehicle's price just to get their hands on a single-digit number. In one case, a buyer paid ₹15.44 lakh for a plate meant for a scooter worth ₹55,585.
Auction data
Dozen single-digit 'fancy' numbers auctioned
The RLA's records show that between January 2020 and October 2023, a dozen single-digit 'fancy' numbers were auctioned. The winning bids far exceeded the value of the cars and scooters they were assigned to.
Other cases
Extreme cases involving 2-wheelers
The trend wasn't just limited to one case. In June 2023, a two-wheeler worth ₹59,336 was given a plate that had been auctioned for ₹4.95 lakh. Another case from August 2023 saw a vehicle worth ₹64,024 get paired with a number that fetched ₹5.75 lakh at auction. Overall, nine two-wheelers under the value of ₹1.28 lakh were assigned single-digit numbers selling for amounts between ₹1.70 lakh and an unprecedented ₹15.44 lakh.
Car purchases
Obsession with single-digit plates not limited to 2-wheelers
The obsession with fancy number plates isn't restricted to two-wheelers. Three sedan owners paid more for their registration numbers than their cars were worth. The vehicles, priced between ₹9.56 lakh and ₹13.22 lakh, were fitted with plates that had been auctioned for between ₹12.21 lakh and a whopping ₹24.40 lakh.
Purchase reasons
Premium number for low-cost vehicles
The reason for buying a premium number for a low-cost vehicle is often to get a specific digit for future use. As one buyer explained, "I wanted a specific number for my future four-wheeler, so I first registered it with a two-wheeler and later transferred it." In some cases, buyers registered the number with an undelivered four-wheeler to not miss out on the auction.
Corporate involvement
Special plates bought by companies too
The data shows that the obsession with single-digit plates isn't just an individual pursuit. Of the 12 high-value numbers sold, five were bought by companies or firms. This highlights the commercial and prestige value associated with these exclusive single-digit plates, making them a sought-after commodity not just for individuals but also businesses.