It may seem like a weird investment, but there are many people who buy personalized number plates as investments. They hope that the value of their purchases increase with time, so that they can sell them and make a mean profit. The Internet is about with people making huge profits from this type of investment, but before you jump into the fray, you should take time to check all facts.
Points to Consider
There is no doubt that this form of investment has its risks. Hence, you need to do your due diligence before buying personalised number plates as an investment. There are some things that you need to consider and these will help you decide whether investing in these cherished number plates is the right investment decision.
• Just like other investments, the value of your personalised number plates could rise or fall
• Typically the value of these cherished number plates falls in the short-term and hence, you should be willing to accept and absorb this devaluation
• This form of investment is for a long-term, as it quite unlikely that the value of your personalised number plate will rise quickly. So be prepared to wait, sometimes even a few decades
• If you want liquidity, this type of investment may not be ideal for you. You will not be able to sell your investment right away if you need cash quickly, as finding the right buyer to offer the price you are seeking can take months
• Be prepared for competition, as there are millions of personalised and cherished number plates on sale at any given point in time
• Personalised number plates have additional expense, such as DVLA fees when you transfer or renew the registration
• These registration numbers are considered a luxury purchase. So, the value of your number plates will be affected by the prevailing economic conditions
• Lastly, it is good to remember that the craze for and popularity of personalized number plates may dry at any point and you will be saddled with a worthless investment that no one wants to buy
If you still want to take the plunge, you will need to find a reliable and trustworthy source to buy personalised number plates.
Where to Buy
The best source of buying these plates is online retailers and dedicated websites. Not only it the online purchase convenient, it also is easy and extremely fast. These online sites have a vast array of stock and personalised number plates that you can choose from. Some sites also allow you to create your own number plates. The key is finding a reliable and trustworthy site that can deliver the personalised number plate to you within your budget.
Tips on Buying Personalised Number Plates as an Investment
Here are some invaluable tips on how to buy personalised number plates if you intend buying them as an investment:
• There are more than 1.2 billion personalised number plates that the DVLA has sold thus far. So you can create your own number plate and get it registered. The fact remains that as long as the number plate has not been sold, you will be able to buy. Remember, the more complex the plate, the more you will have to pay for it.
• Do not stick your search to DVLA website. Look beyond it. There are online websites that are dedicated to selling personalised number plates. These sites allow you to create your own plate or browse through the existing plates that they have.
• Make sure that the site you are dealing with is an accredited one, as this will give you assurance that it is a legitimate, reliable and trustworthy site.
• While new sites are not necessarily dodgy sites, it is best to work with a site that has experience and necessary credentials to handle your purchase.
• Before making the payment, make sure that the personalised number plate you are buying is a genuine one. Check with DVLA to confirm that the registration mark on the number plate is the same as the one on the retention certificate.
Armed with these tips, you can buy personalised number plates as an investment and wait for their value to go up before you decide to sell them.
Martin Temple is renowned for his expertise on buying personalised number plates as an investment. He recommends investor use National Numbers to get genuine and unique number plates. If you need assistance in creating number plates that will go up in value with time, he would be glad to assist you in this regard.