Investments on a 'PL8' at Shannons Feb 22 Melbourne auction
• Five, 3-digits Heritage plates from ‘230’
• Five, 4-digit plates from ‘1405’
• Three, ‘no-reserve’ 5-digit plates from ‘22-228’
Beach shacks are all the rage in Victoria this summer, with a Mount Martha boat shed with no power, bed or toilet expected to sell for more than $200,000 after expressions of interest close next week.
But while these cute and often colourful shacks have proved to be investments, Melbourne’s often fickle weather means they are rarely used for more than a couple of months a year by their owners.
In contrast, Heritage black and white Victorian number plates have similar investment potential, but can travel with their proud owner all year round.
Of the 13 such plates crossing the block at Shannons Melbourne Late Summer Auction on February 22, the numerically lowest of the five 3-digit plates – ‘230’ – can be expected to sell for around $80,000-$90,000, while the lowest of the five, 4-digit plates – ‘1405’ – could achieve a quarter of that.
For investors on a budget, any of the three, 5-digit plates – 22-228, 68-500 and 70-295 that are each offered with ‘no reserve’ – could be snapped up for around $10,000.
In many cases the Heritage plates will be ‘parked’ on a car worth less than their collectible value, while others could grace vehicles worn hundreds of thousand of dollars. However in most cases the plates will represent an appreciating investment that can later be sold on the open market.
Shannons has continued to be the major Australian auction house for these collectible plates, handling major Heritage releases for VicRoads in Victoria and the Roads and Maritime Services in New South Wales.
National Auction Manager Christophe Boribon said the Heritage number plate market had grown significantly in recent years.
“For many years, these early-issue plates were sought and purchased by a small number of collectors.
“However we are now seeing an increasing number of enthusiasts taking interest in not only the individuality and history of these unique plates, but also their proven investment potential”.
Victoria’s most valuable number plate is VIC ‘1’, but like most single-digit plates it never comes to sale as most are passed on from generation to generation.
Legend has it that when the plate was originally produced in 1932 there was disagreement between the Police Commissioner, the Premier and the Governor about who should have the plate on their vehicle.
To solve the problem the plates were not issued to any of them, and were instead locked in a vault at the Motor Registration Board until it went to auction in 1984, where a retired Ballarat mechanic reportedly purchased it for $165,000.
Newspaper reports state that No 1’s current custodian has knocked back a written offer of $1.5 million, while estimates of the plate’s current worth vary from $2-$2.5 million.
View all February 22 Shannons Melbourne Late Summer Auction
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