The auction scene for number plates in Australia has witnessed history being made. The iconic New South Wales number plate 'NSW 1' has been sold for a staggering AUD$11,505,000 (around NZ$12.4 million), shattering all previous records.
Meanwhile, Queensland's 'Q1' has fetched an impressive AUD$5,655,000 (NZ$6.5 million), a significant milestone in the state's history.
'NSW 1': number plate luxury
The 'NSW 1' plate, renowned for its distinctive prestige, achieved a final sale price well above expectations.
The sale culminated in a total payment of AUD$12.4 million (NZ$13.4 million), including the buyer's premium. This makes it not only the most expensive number plate sold in Australia but also one of the most valuable globally.
The 'NSW 1' plate, with its rich history dating back to 1910, was initially issued to the state's Police Commissioner. It later came into the possession of businessman and politician Sir Frederick Stewart in the 1930s, remaining with his family until this landmark auction.
Queensland's 'Q1': also in the spotlight
Not to be outdone, Queensland's 'Q1' number plate, finished in vitreous enamel, has set a record for the state and two-digit plates nationally.
The plate, originating from 1921 and previously owned by hotel magnate James McGuide, was last sold in 1985 to hairdressing business icon Stefan Ackerie. The final sale price AUD$6.08 million (NZ$6.57 million) with the premium, emphasises the growing value of heritage number plates in the investment market.
A growing market
This recent trend in Australia reflects a wider interest in heritage number plates as valuable investment assets.
High-profile sales in other states, such as South Australia's 'GP1' fetching AUD$700,000 (NZ$750k) in 2020 and Victoria's '14' reaching AUD$2.27 million (NZ$2.45 million) in 2022, highlight the booming market.
Investors, including private individuals and firms, are increasingly recognising the potential high growth of these unique assets.
