Some personalized license plates sell for thousands, even millions, of dollars.
You see the vanity license plates on the roads, as drivers stamp their personality on their rides.Some of them are more valuable than you might think. The American Association of Motor Vehicle Administrators says there are 9.7 million personalized plates in the U.S. Some of them are worth thousands, or even millions of dollars.
"This one here, the word CASH," plate collector and seller Michael Modecki held up a California plate."We're asking two million dollars for it. Yah, and we think it’s a reasonable price for it," said Modecki. He says a California driver has asked him to sell it on his siteSome states, such as Texas and California, allow plates to be legally transferred to a new owner and vehicle. The record in the United States right now is $675,000 for the number 11 on a Delaware plate.
"It’s quite unique. It's RARE. It’s one of a kind. That’s one of the rarest plates you can get on a Texas license plate," explained Steve Farar, CEO ofHe says the Texas number 3 plate sold for $10,500. The plate HOUSTON sold for $25,000. "The most expensive we’ve ever sold in Texas was done in 2013, and that was the 12THMAN on a Texas A&M license plate," Farar added. "That sold for $115,000." Investigators tell FOX 26 people buy bogus temporary plates because their vehicle would fail inspection, to avoid paying fees and tolls, or to conceal their true identity."I’m trying to get all the M iterations. I have 3 M's, then I have 4 M's," Modecki showed us his collection.
"I have this plate, which is actually the plate I had in California," he said, showing us a California plate reading MM. And that's not all. Modecki has posted his California MM plate for sale on his website for over $20 million. The plate has stopped traffic, after all.The highest price ever paid was $14.3 million for a plate with the number 1 in Abu Dhabi. In fact, rare plates in the Middle East often cost more than the sports cars that wear them.
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