Dubai’s no stranger to record-breaking sales. Now, it has another exciting accolade to add to its list.
Over the weekend, a two-character car license plate offered by Emirates Auction LLC sold for an eye-watering Dh55 million ($15 million), earning the title of the most expensive license plate in the world, Bloomberg reported. Plate number ‘P7’ went under the hammer during the “Most Noble Numbers” auction at the Four Seasons hotel in Jumeirah. The proceeds, which totaled close to Dh100 million ($27 million), will go toward benefitting the 1 Billion Meals Endowment campaign, a global food initiative founded by ruler Sheikh Mohammed bin Rashid.
“We are proud to announce that the ‘Most Noble Numbers’ charity auction organized by Emirates Auction has set a new world record and entered the Guinness Book of Records!” the auction house wrote in an Instagram post. “Plate number P7 was sold for a whopping 55 million dirhem, making it the most expensive number in the world. We are thrilled that the proceeds will go directly towards supporting the ‘1 Billion Meals Endowment’ campaign, which aims to establish the largest Ramadan sustainable food aid endowment fund.”
Vanity plates have a history of killing it at auction in the United Arab Emirates. Back in 2008, bidder and billionaire businessman Saeed Abdul Ghafour Khouri paid big bucks for what was formally considered the priciest plate of all time. He shelled out a whopping Dh52.2 million ($14.3 million) for the single-digit plate, which featured the number one.
According to the Khaleej Times, bids for the sought-after ‘P7’ plate began at Dh15 million ($4 million) on Saturday night and quickly shot up to more than Dh30 million ($8 million). “Sixteen years ago, a world record was set in Abu Dhabi when a number plate was sold for Dh52.5 million. Will we set a new world record?” asked the host. By the end of the night, the highest bidder splashed out Dh55 million ($15 million) to obtain the prized plate—though Emirates Auction LLC did not reveal their identity.