The world of automotive collectibles has reached new heights with the recent sale of the historic NSW '70' number plate for a staggering $1,580,000 AUD at a Lawsons auction. This sale highlights the growing trend of rare number plates as lucrative investments, with some interesting financial implications for buyers.
The Allure of Numeric Plates
Numeric number plates, particularly those with low digits, have long been prized by collectors. The "NSW 70" plate stands out for its historical significance and rarity, having been issued in the early 1900s. These plates represent a tangible link to Australia's motoring past and have become highly sought-after by enthusiasts and investors alike.
Investment Potential and Costs
The sale of NSW '70' for $1.58 million demonstrates the significant investment potential of these rare plates. However, potential buyers should be aware of additional costs. In this case, a buyer's premium of 8.25% was applied to the sale price. This means the total cost to the buyer was approximately $1,710,350, a substantial increase over the hammer price. Here's why these plates are increasingly viewed as serious investments, despite the additional costs:
- Scarcity: With a finite number of historic plates available, their value tends to appreciate over time.
- Historical Significance: These plates trace their roots back to the early 20th century when the first vehicle registrations were introduced.
- Status Symbol: Owning a rare plate is seen as a mark of prestige in automotive circles.
Record-Breaking Sales
The NSW '70' sale is part of a larger trend of record-breaking number plate auctions. Earlier this year, the NSW '1' plate sold for an astounding $11,505,000, shattering previous records. This demonstrates the growing appetite for these unique automotive collectibles.
The Storage Solution
One of the most interesting aspects of this market is the flexibility offered to investors. The Lawsons auction listing revealed a crucial detail: plates can be held in storage by Service NSW for a nominal annual fee. This means investors don't need to immediately attach the plate to a vehicle, allowing them to securely store their investment while waiting for its value to appreciate.
Looking Ahead
As more collectors and investors become aware of the potential in this market, we can expect to see increased competition for these rare plates. The combination of historical value, scarcity, and the ease of storage makes them an attractive option for those looking to diversify their investment portfolio.
However, potential investors should carefully consider all costs involved, including buyer's premiums and storage fees, when evaluating these investments. The substantial premiums charged by auction houses can significantly impact the overall investment.
For car enthusiasts, these plates offer a unique way to own a piece of automotive history. Whether displayed on a classic vehicle or held as an investment, historic number plates like "NSW 70" are sure to continue capturing the imagination of collectors and investors alike.
Stay tuned to CarExplore.com.au for more updates on this fascinating corner of the automotive world.
