Someone in Hong Kong shelled out a total of £1,316,061 in 2008 in order to get the number plate 18. This is the most money that has ever been paid for a license plate anywhere in the world. The previous record was held by Abu Dhabi, when in 2008 a license plate bearing the number 1 was purchased for a staggering price of £717,000.
The number 18 is regarded to be lucky in Chinese culture because its sound is comparable to that of the term prosperity. It is frequently regarded as a representation of prosperity and achievement. The fact that the individual in Hong Kong was willing to pay such a high price for the plate is probably due to this factor.
In certain other regions of the world, license plates have also been sold at auction for astronomically high sums. In the year 2014, a license plate in the United Kingdom bearing the number 5 was purchased for the sum of £285,000. In 2008, the United Arab Emirates saw the sale of a license plate bearing the number 1, which brought in a price of £6.
8 million. The high prices that are paid for license plates are evidence that they are significant assets and should be treated as such. They are a status symbol and a tool for certain people to flaunt their wealth, according to some people.