Dubai: Single digit number Q2, with a base price of Dh33 million went unsold at the Roads and Transport Authority’s (RTA) 93rd auction on Saturday.
It was the last single digit plate available with the RTA and, surprisingly, the number found no buyers.
More than 500 people who took part in the auction were keenly waiting for Q2 to go under the hammer, particularly following the previous auction in October that saw number D5 going for Dh33 million.
Many participants felt the number was overpriced and that is the reason nobody went for it.
“I think the number was slightly overpriced. The organisers probably got excited by the response to the last auction,” said Pamuk, a participant at the auction.
Ahmad Hashem Behroozian, CEO of RTA’s Licensing Agency that oversees the auctions, said that it was surprising to see the number remain unsold.
“Yes, it is surprising. I thought it will be the star of the show. We will probably lower the base price for the next auction,” said Behroozian.
The number was one of the 91 number plates on offer, including I-10 which garnered the highest bid of Dh6.7 million.
Seven other numbers broke the million dirham barrier, including Q12 which went for Dh5 million and C55 which went for Dh4.04 million.
Other numbers that bagged more than a million were L11111 that was bought for Dh1.98 million, C888 was sold for Dh1.81 million, M222 went for Dh1.44 million, I1000 was bagged for Dh1.1 million and E55555 for Dh1.03 million.
Behroozian said that RTA offered some strong numbers this auction, including 2, 3, 4 and 5 digit number plates.
He added that the participation process for the 93rd auction improved to greater security and efficiency.
“To bid for Q2 there was a prerequisite of a Dh10 million cheque that needed to be deposited with RTA, while for other numbers the deposit is just Dh25,000,” said Behroozian.
The deposit amount was increased following reports of a cheque returned from a bidder at a recent auction in Abu Dhabi.
In October Indian businessman Balwinder Sahani bought number plate D5 for Dh33 million, which remains the most expensive number plate in Dubai.
The 5 digit special plate number (L 11111) sold for AED 1,980,000 pic.twitter.com/oPzyujGUCg— RTA (@RTA_Dubai) December 17, 2016
Dubai number plate I10 has been sold for Dh6,700,000. The 93rd open auction is being held on at Godolphin Ballroom, Emirates Towers Hotel in Dubai, offering two-, three-, four- and five-digit plates.
Bidding on the five-digit special plate number (E 55555) has just started pic.twitter.com/fesYNCTrmv— RTA (@RTA_Dubai) December 17, 2016
91special plate numbers in one auction! pic.twitter.com/goBSLOApW4— RTA (@RTA_Dubai) December 17, 2016
