Duo shells out Dh4.5M for fancy plates
dubai — Business partners Adel Abdul Aziz Al Matrooshi and Khalid Salmeen shelled out around Dh4.5 million to buy fancy vehicle licence plates during the 95th open auction of the Roads and Transport Authority (RTA) on Saturday. They took home the second most expensive plate, ‘H33’, of the auction, which they bought for Dh2.82 million.
Aside from the ‘H33’, the duo also won the bidding war to grab K8888 (Dh670,000); O120 (Dh350,0000); R3030 (Dh130,000); P7700 (Dh116,000); K8800 (Dh84,000) and a few more special plates.
“We are going to sell these special plates,” Al Matrooshi told Khaleej Times. “We have been trading fancy plates for 14 years and it’s a good business.”
For Emirati Rashid Ahmad it was “family legacy and heirloom” that moved him buy a special plate for Dh290,000. He said he spent around Dh800,000 in the previous auction. Although it was “very tempting to re-sell a special plate”, he opted to keep it as a “family legacy”. “Special plates are not just fashionable, it’s an investment like gold which will fetch you really good money,” Ahmad said.
“At the last auction, I bought a three-digit plate for Dh325,000 and after a few months, someone offered to buy it for Dh370,000 but I did not sell it. The money I spent is for charity and the special plate is a good bragging right.”
The night’s most expensive plate, R13, went for Dh2.92 million.
Sultan Al Marzooki, director of vehicles licensing, said: “The RTA’s auction has witnessed huge footfall from community segments as they contribute to realising our goal of bringing happiness to people.”
We are going to sell these special plates. We have been trading fancy plates for 14 years and it’s a good business.” Adel Abdul Aziz Al Matrooshi, businessman
Special plates are not just fashionable, it’s an investment like gold which will fetch you really good money.” Rashid Ahmad, Emirati bidder