UAE Businessman Pays $4.9 Million for License Plate

Having a certain license plate may be valuable in certain parts of the world.

In the Middle East, the lower number the license plate, the higher price it commands. The plates are great status symbols in the Arab countries.

Businessman Arif Ahmed Al Zarouni in the United Arab Emirates paid a very handsome sum for the prestige of owning the license plate number “1”.

How much? $4.9 million to be exact.

The businessman from Sharjah won the auction held at Al Jawaher Reception & Convention Centre in the Emirate by Emirates Auction.

The plate was put up for sale at AED 1 million but drew AED 18 million.

However even at $4.9 million this isn’t the most money spent on the license plate. In 2008, a 25-year old bought a number 1 plate for $14.2 million in Abu Dhabi.

1 plate 2

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