A UK based businessman, Afzal Khan (better known as the founder and owner of Kahn Design, Afzal dropped out of college at age 17 to start his car tuning company) has refused to accept a £6 million (Rs. 60 crores) offer for his ‘F1’ registration plate, which he had bought in 2008 for £440,000 (Rs. 4.40 crores). The offered amount of money was enough to buy him 60 units of Porsche Cayman or 600 units of the Renault Duster. The F1 registration number is the entrepreneur’s favourite, which currently is being used on a monstrous super car, the Bugatti Veyron. Khan turned down this offer because he believes that this number plate is worth much more.
The fancy F1 number plate is currently the most expensive registration number bought in the UK. Now that this specific number plate has been offered a hefty amount of money, the value of the same has increased tremendously. Before the Bugatti Veyron, Khan used the F1 on his Mercedes SLR McLaren. When he bought the 109 year old registration plate in 2008, it was put onto a Volvo S80. Other fancy number plates owned by Khan include 4HRH and NO1. It is legal in the UK to swap registration plates between the cars you own, so he puts the special number onto special additions in his garage.
Essex County Council used the F1 plate earlier and sold it to Khan in order to raise money for charity. Personalised unique number plates are always a good investment. The value of such fancy number plates only increases in time and doesn’t fluctuate unlike properties and other investments. An Abu Dhabi businessman, Saeed Khouri paid £7.1 million (Rs. 71 crores) in 2008 on a UAE based registration plate ‘1’. In India too, trading of such fancy number plates is popular. You have to shell out a minimum of Rs. 5 lakhs for a basic fancy registration number in India.
Source – Daily Mail UK