A single-letter number plate has broken records overnight, selling for more than an Aston Martin Vantage.
The heritage number plate market has been running red-hot in recent years, but now low-digit alphabetic number plates have started to demand big money.
Overnight, Victorian number plate ‘Q’ sold for a hammer price of $362,000 through Slattery Auctions – believed to be the most ever paid for a single-letter plate in Australia.
A total of 11 bids drove the price up, with the winner having to pay just shy of $390,000 including fees.
It’s not known whether the new owner will have to pay to have the number plates posted from Queensland, where they currently reside.
The sale represents a 100 per cent increase in value over three years, with the number plates selling for $181,000 through a Shannons auction held at the Motorclassica show in 2019 – the first time these type of plates had been auctioned since their release almost a decade earlier.
Referred to as ‘signature number plates’ by VicRoads, ‘Q’ was one of 24 single-letter plates originally sold at auction in 2010, attracting a hammer price of $50,000 – with letters ‘I’ and ‘O’ withheld due to their similarities with ‘1’ and ‘O’.
At the time, ‘A’ sold for more than double that amount, bringing in $110,000, with ‘X’ coming in second place with $100,000.
Despite the new record, low-digit alphabetic plates still have some way to catch up to numeric plates.
In May 2022, Victorian heritage number plate ‘14’ broke records, selling for $2.27 million – just falling short of NSW ‘4’, which was the most expensive Australian number plate publicly sold, bringing in $2.45 million in 2017.