With a rise in private number plates on the market, and also a rise in demand, it has never been easier to sell a private number plate. These days, people opt to purchase private number plates as gifts, to make their car stand out, or simply to try and make some extra cash buying and selling.
If you have a private number plate you’re considering selling, one of the easiest ways to do so is online. There are different avenues you can go down when it comes to selling online, but we are here to give you all of the information you need and cover all of the options.
How much is my number plate worth?
Like with any buy and sell trade, different dealers will over different prices at evaluation. Therefore, the best way to find out how much your number plate is worth is buy approaching a variety of dealers and seeing who offers the best price.
As well as physically approaching dealers, many online number plate websites also give you the option to fill in the details of your number plate for a free and immediate online valuation. This way you will be able to compare prices much faster and make a quick deal if necessary.
There are several factors that contribute to the price of your number plate. First of all, it depends on how popular the word/slogan on the plate is. If your number plate spells out a popular name such as ‘Tom’, then there will be a lot of people that are willing to pay for it. On the other hand, if you have a name printed on the plate that is less popular, it will drive a smaller price.
Number plates created before 1970 are also extremely sought after as they are known as ‘cherished’ plates. These plates are dateless, meaning that you can hide the age of your vehicle. On top of this, they also have fewer characters which means you can be more experimental with the character assortment on the plate.
Where can I sell it?
Luckily, there are a number of different places you can choose to sell a number plate online. One of the simplest ways to sell a number plate online is through a number plate specialist. There are certain websites that only deal with the trading of used private number plates. Here you will have buyers that are specifically looking for number plates.
There are other ways you can sell a number plate online, for example using standard buy and sell websites such as Gumtree and eBay. Although there may be a larger audience on websites such as these, people may not be specifically looking for number plates, therefore the market won’t be as competitive.
What procedures do I need to take?
If you want to sell a private number plate then you must ensure:
-You are the registered owner of the vehicle the number plate has been assigned to
-You have the V778 Retention document if the plate has been retained
-If the number plate is still on a vehicle, the car must be taxed and have a valid MOT.
-The number plate must not be classed as ‘non-transferrable’
From here, once you have listed the plate and sold it, you will have to go through certain procedure. Ensure you show the buyer relevant proof that you own the plate, then from here you can begin the process of transferring the number plate to the buyer.
You will need to pay (or the buyer) an £80 transfer fee to the DVLA to have the number plate taken off your vehicle and assigned to another. You will also have to complete a V317 form online, or print it and send via post, along with your V5C. Once this has been completed and acknowledged by the DVLA, you are free to sell and transfer the plate.
*This is a collaborative post. For further information please refer to my disclosure page.
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