Reply With Quote"Tatiana" did well :)
Thought this might be interesting to the fellas into these
Some hammer prices from today’s auction, add around 28% for VAT and fees!
LSK 1 is just mental…
"Tatiana" did well :)
Not sure what I would have guessed someone might pay but that’s serious money.Originally Posted by GraniteQuarry
Wow, can't believe LSK 1 sold for so much, am I missing something special about that plate?
Also I didn't know you had to add 28% in VAT and fees on top of the auction price - I've been underestimating the cost of these plates.
It’s not quite that bad at big numbers because the charges are 20% VAT, 7% buyers premium plus £80 registration fee.
LSK1 therefore cost £228,680, not £230,400. Not that a couple of grand really makes a difference if you’re spending nearly a quarter of a million on a plate.
I've not checked but it is usually VAT on the buyers premium, £160,000 + £11,200 + £2,240 + £80. £173,290
That's how our auctions work (unless the vendor is registered for VAT and elected the item for VAT because it is business asset).
Ironically LSK are initials that relate to my business, but not going to waste that amount of money on a number.
I have a client with RS1.....he gets offered stupid, stupid amounts for that.
Sent from my moto g(8) plus using Tapatalk
From the auction site.
All purchases are subject to VAT, a Buyer’s Premium of 7% and an £80 Assignment Fee
I wonder how many exiled oligarchs want to surprise their wife with a new car.
LSK, and moreso SK are common initials for Sikhs/Hindus. My guestimate would have been £30k.
Crazy prices.
I managed to buy one yesterday
5611 AL.
I tried to buy MA71LDA when they came out. That was held back for auction. No idea if it’s gone through yet.
There's also VAT on the buyers premum! Effectively it's add 28.4% plus £80 on hammer.
LSK 1 at £160,000 cost £205,520 total, mental price indeed.
Ha be careful!
It's a bit funny as auctions get the extras charged but buying direct from DVLA 'search' doesn't, they are all-inclusive prices.
Tatiana is proof positive that the DVLA are quite happy to make huge money out of number plates that have to be mis-spaced or altered to make a name.
I don’t understand the brigade on here who think that altering a plate to spell a name is ridiculous.
My nice has D10 NEP. It cost pennies and spells her first name and the first initial of her surname perfectly albeit its mis-spaced.
I managed to get hold of a plate a few years ago that spells out my first initial and surname with minimal "interpretation" of numbers for letters required. Living in London and only owning a Ford Fiesta, I'm starting to think it will forever be £999 spent on a bit of paper. Better set a reminder to renew it!
London based Russian Oligarchs daughter perhaps 🤔
Sweet baby She-Zeus!
______
Jim.
Not that I have much knowledge on the subject, but this looks like an excellent way of laundering money.
20% VAT on both the hammer price and the Buyers Premium, so in effect it's 28.4% on top of hammer price plus the flat £80 assignment fee.
It is illegal though, right? Appreciate people don't often get pulled up on it, but it's always going to look a bit iffy.
How have you reached that conclusion? Do you think the DVLA is accepting £200k payments in used notes?
A friend of mine recently got a £100 fine in the mail for a wrongly spaced numberplate.
My 911 has a G911 XXX plate, which is interesting as it's a G series 911, but of course G was the '89 plate as well, so it's age appropriate. Since it's so specific I thought someone had bought it, but it's non-transferable, which can only mean DVLA issued it and locked it to the car (which generally happens when the car was on a private plate and the original age specific one was lost). Seems odd as you'd think if someone paid for it, it wouldn't be non-transferable.
The DVLA detail posted above is quite specific; 20% VAT plus 7% handling fee (no mention of VAT) plus £80 transfer fee.
As it is so specific, it’s fairly safe to conclude that VAT is not payable on the handling fee.
Sorry, you're wrong.
https://dvlatimedauction.co.uk/questions_answers
😂😂
VAT is payable on both hammer price and the 7% buyers premium, it's explicit on the website Q&A. So the right calc is hammer price + 28.4% + £80 for total cost.
I stand corrected.VAT is payable on both hammer price and the 7% buyers premium, it's explicit on the website Q&A. So the right calc is hammer price + 28.4% + £80 for total cost.
I hadn’t seen the table previously and accept that I was wrong.
If the authorities were serious they'd seize/withdraw the plates rather than sending fines...
Don't really understand the rest but wonder if there could be a market for speculators 'renting' plates out to suitable cars or do they have to be owned by the car owner?
Non-transferable registrations which are locked to a specific car are issued by the DVLA in specific circumstances, either when a car is significant for some reason (a race car, etc.), or when they issue an age specific number to a car which doesn't have one (either imported, or lost it due to a private plate being on it). They made them non-transferable some time ago as dealers were requesting them and selling them on for profit, as theoretically you could've done it indefinitely. Non-transferable plate can't be used on any other car. You can still use a private plate, but the other will still be locked to that car.
I missed this, nice pick up! Fair bit of money (3.6?), but assuming your initials are AL then a great plate.
Just bought a plate myself, or at least I hope I did via RegTransfer although they are still awaiting seller to submit their documents since Thursday so I hope it doesn't turn into a refund situation.
Who are you using to get the plates made out of interest? Based on a random Google search I'm thinking of using number1plates as they seem to use the minimum size for the legal jargon which sort of makes sense to minimise. But that's just based on the website sales pitch rather than any first hand experience of them.
Yes mate. Didn’t think it was a Bad price tbh. Start bid on it was 1500.
I use Rick at high gate house. Good product and excellent service
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