Businessman Turns Down $10m for Licence Plate !!

csv8 · 01-09-2013, 11:46 PM

A UK businessman has turned down an offer of more than £6 million ($10.44 million) for his 'F1' registration plate.

Afzal Kahn has spent hundreds of thousands of pounds building up one of Britain’s most impressive private plate collections. And the most desirable of the registrations is his beloved 'F1', which currently sits on the front of his Bugatti Veyron supercar.

The entrepreneur caused a stir when, in 2008, he paid a staggering £440,000 ($765,300) for the cherished plate -- a British record. But it’s proven to be a savvy investment with the plate’s value increasing by more than ten times after one ultra-rich individual offered £6million for it.

Drivers in the United Arab Emirates are even more fanatical about personal registrations. The single digit ‘1’ sold in February 2008, for £7.25 million ($12.61m) , reportedly to Abu Dhabi businessman Saeed Khouri, then 25.

Personal plates can be a good investment, if you make the right choice. VIP 1, which originally belonged to Pope John Paul II’s Popemobile, was bought for £62,000 ($107,840) in 2004 – two years later Roman Abramovich bought it for £285,000 ($495,730).

However, Mr Kahn, who runs A Kahn Design in Bradford, rejected the offer believing it is worth considerably more. Indeed, he has no pressing need for new cars, with our pictures also showing him posing with the plate attached to his Mercedes SLR McLaren. Mr Khan's refusal to sell the plate means that he still likely holds the record for spending the most money on a UK registration plate.

A spokesman for Mr Khan's company said: 'We have received a significant multi-million pound offer for the F1 plate which we rejected out of hand. Mr Kahn has no interest in selling F1, which is his favourite plate. Cherished number plates, unlike property or other investments tend not to fluctuate in value, they only go up. It really shouldn’t be a shock to people that the number plate is worth millions of pounds.'

The 109-year-old registration was on a modest Volvo S80 when Kahn bought the plate in 2008. It was used by the chairman of Essex County Council with the local authority using the funds from the sale to raise money for a charity which aimed to raise the standards for young drivers. 'F1' now makes up part of Mr Kahn’s impressive plate collection which includes the registrations ‘4HRH’ and ‘NO1’.
http://www.carsguide.com.au/news-and...r_number_plate

BHDOGS · 02-09-2013, 12:44 AM

There really are some people who don't deserve money in the world number plates for millions while millions starve same old **** diffrent day

Iggypoppin' · 02-09-2013, 01:25 AM

That is how it is I'm afraid BHDOGS.

chevypower · 02-09-2013, 02:37 AM

Quote:

Originally Posted by BHDOGS

There really are some people who don't deserve money in the world number plates for millions while millions starve same old **** diffrent day

I see your point, and I see this complaint a lot, but nobody seems to do their part in helping the world become this way. If you don't want people to get rich, don't support them. Don't buy any product from a large corporation, don't use banks, don't fly on a commercial airliner/aircraft, don't buy a car, don't buy oil/fuel. Just buy a farm (with no commercially produced machinery, tools, or other equipment), make and cook your own food, build your own house from the materials you make, make your own transportation, be energy independent. Make your own clothes from your own grown cotton.

Capitalism just works, I believe we are all capitalists, not everyone wants to admit it. Even Michael Moore, who made a movie about evil capitalism and how we should be socialists to help the poor, is a capitalist. The guys that operated the cameras, mics, and lights in his movies didn't make as much money as he did. Therefore, he is not practicing socialism.

What these people want is for others (but not themselves) to have companies and products to exist and to keep hiring people, pay everyone larger salaries, and offer their products for free (or really cheap). They want people to take risks by financing and producing products without the financial reward for doing it. It can't happen, it has never happened, and it never will happen.

As for me, I realize I can't complain about people making ridiculous amounts of money because I know I want or need the products and services that come about with this incentive. But the government can do one thing by allowing oil fracking so we can stop sending ridiculous amounts of money to the middle east. Until that happens, nothing is going to change.

**GasoLane** · 02-09-2013, 10:48 AM

Quote:

Originally Posted by BHDOGS

There really are some people who don't deserve money in the world number plates for millions while millions starve same old **** diffrent day

I guess the same could be said, albeit on a smaller scale, about people who buy expensive fast cars when they cant be driven faster than 130kmh, or pay big dollars to make theirs look, go or sound better.

NX74205 · 02-09-2013, 09:21 PM

Quote:

Originally Posted by BHDOGS

There really are some people who don't deserve money in the world number plates for millions while millions starve same old **** diffrent day

It's THEIR money, they can do what they want with it. If they want to spend millions on a number plate instead of donating it to the needy, so what? People have a right to be as greedy as they bloody well want to be.