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Indian businessman buys Dubai licence plate for Rs59.9 crore for his Rolls Royce

Auctions of licence plate numbers are a big draw in the United Arab Emirates where a shorter number is a status symbol coveted by the wealthy.

By: Express Web Desk | New Delhi | Published:October 9, 2016 7:02 pm
dubai-businessman What’s riding on a number? Apparently, quite a lot! Indian businessman Balwinder Sahni paid million for a special Dubai number plate.

How much would you pay to own a cool licence plate?

A couple of thousands? Tens of thousands? A lakh? How about a crore? Well, for this Indian businessman, owning a special licence plate meant so much that he spend almost a whopping Rs60 crore to buy it!

Balwinder Sahni reportedly paid 33 million dirhams ($9 million, or Rs59.9 crore) at an auction to buy a Dubai licence plate for one his own Rolls Royce on October 8. Owner of a property management company, Sahani, also purchased another Dubai plate for 1 million dirham ($280,000).

This was not a first for Sahani either, who had purchased the licence plate number O9 last year as well for 25 million dirhams ($7 million), according to local media reports.

According to a Bloomberg report, in Dubai, licence plates with shorter numbers are auctioned as they are considered to be status symbol by the rich and wealthy. The record-breaking amount for a number plate in the country was paid by a businessman Saeed Al Khouri who bid over $140 million (52.2 million dirhams) back in 2008. It was for the licence plate number 1.

In Saturday’s auctions, over 80 number plates were auctioned. The bidding for ‘D5’ plate started at around $5.5 million (20 million dirhams). The money earned at the sale will go to Dubai’s Roads & Transport Authority.