Don’t bank on fortunes in personalised plates

warning to anyone thinking about buying a personalised plate as an investment: You’re unlikely to make a fortune from have known to pay for rare plates.

‘‘I tried to get a valuation by about 10 places but no one will do it for personalised plates.’’

Since personalised plates first became available in New Zealand in the late 1980s, there have been promises that buying the right combination of letters and numbers could lead to riches.

New plates now sell for $599. The second-hand market is going strong but it’s unclear that it is particularly lucrative for owners.

KiwiPlates, the new operator of personalised plates in New Zealand, advises that generic plates that appeal to a wide range of people tend to fetch more in resale value than a plate with a personal message.

Financial adviser Michael Cave said he had seen plates he wished he had bought in the early days.

‘‘Such as ‘NZ’, which is owned by the founder of personalised plates. Whether any have gone up in value is another question. They did increase in value in the early days.

‘‘That’s often the key with these niche or unique investments – the early birds are often the winners. The sheep that follow later, are often left with the leftovers. And we know what happens to leftovers over time.’’