While most of the people would pay Rs 31 lakh on obtaining a brand new car, a Kerala businessperson has stumped all by obtaining a number plate for a similar amount instead.
K.S.Balagopal, MD of devi pharma recently bid Rs 31 lakh at an auction to shop for the richest number plate in Kerala. The car? A Miami Blue Porsche 718 Boxster with an on-road value of Rs 1 crore.
State RTO offices periodically unleash a list of series numbers for car number plates and these are auctioned off for top costs as several envy having that distinctive, far-out number plate. And for Balagopal who fancies obtaining the first plates in each series, this was for certain not the first massive splurge.
To enter the competition, Balagopal had to give Rs 1 lakh in entrance fee and so bid Rs 30 lakh for the number plate at the same time as bidding started at Rs 500.
According to a report in Times now, the businessperson had paid Rs 19 lakh for a number plate during a 2017 auction for his Land Cruiser.
Bidding on far-out range plates appears to be something of a hobby with Indian businessmen. In 2016, Balwinder Sahani, an Indian businessperson in the United Arab Emirates paid about Rs 60 crores for a ‘D5’ range plate in dubai.
The current record for the world’s costliest number plate (‘F1’) is held by British businessperson Afzal kahn, owner of kahn design who bought it for a banging Rs 132 crores. (Unlike india, voters of the uk will individualise the content of the number plate within the UK)
Now that’s an expensive, albeit wasteful, fancy.