While crypto has been dominating conversations for several years now - from passing chat with your next door neighbour Mick to board meetings of full-time financial analysts who’ve been in the game for decades - in its purest essence it’s a pretty volatile market.
I mean, look at that poor bloke who bought 2 Papa John’s pizzas for 10,000 bitcoins in 2010. In today’s market, that would mean he spent - wait for it - more than $664 million. On 2 subpar pizzas. Ouch.
And what about all those poor saps you read about who lose their crypto wallets because their PC dies or they forget their passwords? Bugger that.
Instead of going down such a risky path, why not look a little more locally to make a buck? Moree specifically, to the custom and heritage number plate market.
What are custom/heritage plates?
If you’re not 100% across the number plate game, I can’t really blame you. But essentially, you can register different types of number plates as you wish, as long as you pay the money for them (this will differ a bit depending on which state you're in).
Custom plates are exactly what they sound like; in Victoria, you hop on the vplates website and enter a combination of letters and numbers up to 6 characters. For example, if GoT’s Robert Baratheon were to register plates he might go with ‘BOBBYB’.
Heritage plates are Aussie plates which were issued before the 1950s (when number plates were effectively standardised around the country). An example would be a Porsche 911 owner with the heritage plate ‘911’. As an idea of just how much money heritage plates can go for, in 2017 the number plate ‘4’ fetched a whopping $2.45 million at auction in NSW.
Benefits of investing in number plates
There are a few solid advantages to choosing number plates as your next investment opportunity, including:
- Minimal initial investment - you’re not putting up tens of thousands of dollars here. Registration of a new set of plates will set you back about $1000 or less in most states.
- Easy trading - forget having to jump onto complex stock market trading platforms; number plates are bought and sold in a ridiculously straightforward way on sites like Mr Plates.
- Great potential - as long as you’re forward-thinking, can recognise trends and stay ahead of the game, there’s a good chance you’ll see a return.
Things to consider before laying down the dollary-doos
Like all investments, there are several things you need to keep in mind if you’re thinking about getting into the number plate game.
For example, just because you think a specific custom plate will increase in value doesn’t always mean it actually will. Options such as ‘BECKY1’ might seem like a good idea, but chances are you’re going to struggle selling it as it’s too specific. Be aware of what the market wants, where it’s at and where the highest potential sits. At the end of the day, the market will dictate the value of the plates you buy.
Take time to do plenty of research before jumping into purchases in order to minimise risk and maximise your financial gains.
Get a new ride to match your valuable new plates
What’s the point of having a set of killer number plates without being able to show them off attached to something awesome? At Stratton Finance, we’re here to help you with car financing to simplify the entire process of securing a top finance deal.
Backed by more than 20 years’ experience in the financing industry, we’ve managed to build a gigantic lender network, which means when you speak with us it’ll open you up to a plethora of different lending options - not just the one or two that are offered at a bank.
Find out today what your monthly repayments could be using our online car finance quote, and when you’re ready to apply you can do so easily online in under 5 minutes flat!
Got a question? We’re always happy to have a chat. Call us now on 1300 787 288 or use our online contact form to shoot us a message.