Are Car Number Plates Worth The Investment?

Some may think that paying for vintage car number plates is an expensive hobby when in reality, they make terrific investments and we’re not talking about short-term returns. In this article, you’ll find that there’s a bigger picture to investing in vintage car plates rather than just buying it for the sake of status symbol.

To operate on the road in Singapore, like in any other country, every motor vehicle must obtain a vehicle registration number (VRN). So every VRN is distinct and one-of-a-kind; it does not repeat and cannot be reused once discarded.

When purchasing a new car, the majority of drivers utilize the VRN granted to them by the LTA. An allocated VRN is free of charge. You might alternatively bid for a new VRN (from LTA) or keep a VRN from a previous car. Then, the third alternative is to buy and sell a VRN on the open market.

The Origins of Prefixes

A VRN is made up of three parts: the prefix, the numbers, and the suffix. Consider the string ‘SJH1842U.’ SJH is the prefix, 1842 is the number, and U is the suffix formed from the numbers and checksum of the prefix.

VRN began as a private automobile service in the early 1900s, with a single prefix S denoting Singapore. Each series has just 9999 numbers. With the passage of time, the 2-letter prefix had to be implemented in 1913, followed by E/EA in 1972, and finally S with a 3-letter prefix in 1984.

On The Road with Retro License Plates

If you’re someone with an eagle eye whilst driving, you may have seen automobiles with 2- or 1 – letter license plates. These license plates are classified as vintage plates, and the last of the series EZ was issued in 1984.

You’ll come across license plates such as S 11 T or S 94 D and the likes of it. When you do, don’t be surprised by how much these drivers are willing to pay for the distinctive numbers.

Pricey Car Number Plate

One of the most pleasant aspects of being a car enthusiast on the road is noticing excellent numbers on other cars, especially if it is a vintage plate. It truly is remarkable if the license plate is “more pricey” than the automobile to which it is attached.

A single-S automobile registration number is worth roughly $300,000 on the open market. A vintage automobile registration number fetched $335,000 at auction. It costs more than a typical automobile and is worth the same as a brand-new five-room apartment in Sengkang.

At a public auction organized by Knight Frank at the Amara Hotel, vintage automobile registration number S 32 H was sold for a stunning $335,000. The auction or sale of vintage VRN is not a new phenomenon. It’s been around for a while and will continue to be so in the future. Even now, earlier VRN is still expensive and in great demand.

What If Vintage Plates Are Pricier Than I Expected?

Ultimately, it all comes down to how deep your wallets are. However, you do not have to break the bank. With each series released by LTA, there is still the chance to bid for excellent number plates.

There are also earlier plates that are less expensive while still holding worthwhile values. There’s no harm in considering getting vintage license plates; after all, they make excellent investments for the future.

Summary

Each VRN number is distinct from the others. The same combination can never be reused once it has been discarded. As users scrap their automobiles and give up their VRN, the quantity of old or antique VRN tends to decrease with time.

The wealthy or those with expensive rides tend to lean towards a high-end VRN. There is a market demand for a variety of combinations, single-digits, and antique VRN.
You’ll find at the conclusion of this article is that the older the prefix (excluding the 3-letter prefix), the more valuable it can be. According to the examples we’ve shown you, the shorter the prefix, the more expensive it is, and the fewer the digits, the more marketable it is. Last but not least, 1 is the most valued single digit.

Overall, if you have an antique automobile in the family, be sure to keep the number plate license and see whether it has a good combination of the above. It is also customary for number plates to be passed down from one car to the next as long as the family keeps the VRN.

Odds are your car might just be the next S 32 H in the future.