A car with a rare $10 million detail was spotted on a Melbourne street!
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In the world of car enthusiasts, the vehicle itself is not always the star of the show.
Sometimes, it's the seemingly insignificant detail that holds the most value.
This was the case with a Mercedes recently spotted on a quiet Melbourne street, which sported a detail worth over $10 million.
This detail? A heritage number plate.
Heritage plates, or numerical plates, have become a hot commodity in recent years.
This booming market has seen some plates fetch millions of dollars at auctions or through private sales, and the principle is straightforward: the lower the number, the higher the value.
The most coveted of these is the black VIC 1 plate, reportedly owned by Peter Bartels, former CEO of Coles and iconic Aussie beer brand Fosters.
According to Ramy Attia from Heritage Only, a premium marketplace for heritage plates, this premier plate could be worth well over $10 million. Plate enthusiast and collector Lachlan Quayle suggests it could fetch as much as $15 to $20 million at auction.
The value of these plates is akin to real estate. 'If you buy in the good areas, it goes up over time,' explains Lachlan. In Victoria, any plate from 1 up to 285,000 is considered a heritage plate. These were the first ever number plates issued in the state, available between 1932 and 1939, and were handcrafted for VIPs and distinguished Victorians.
Today, VicRoads holds these plates and releases them into circulation gradually, available for purchase only via private sellers and auction houses.
While these plates can be spotted regularly on the roads, snagging one up is still difficult.
'Quite commonly, all the single digits are sort of held tightly by families and they usually get passed on from generation to generation,' Ramy Attia shared.
'So it's very rare for any of these ever to actually hit the market and become available for purchase.'
'Basically, once you have it, you'll be holding on to it for a lifetime. And I guess that's why [VIC 1] is the most desirable.'
These plates are not just a status symbol but also a sound investment. They increase in value over time, with some collectors arguing they're a more valuable asset than property or shares.
'There is no land tax, stamp duty, council rates or management fees, which makes them a unique asset,' Ramy explained.
But what makes these plates so appealing? For Lachlan, it's the rarity and the stories behind them.
'Either the family or a business person owns the plates because some of them are quite expensive. They've got a lot of stories behind them,' he said.
Lachlan, 23, runs a popular Facebook page, Exotic Car Spotting Australia, which currently has over 12,000 members. It all started with his love for cars, which soon turned into a passion for plate spotting around seven years ago.
'I've always been interested in cars, then I started to notice single-digit plates. It was only when I grew up a bit and started to earn a bit more money that I could actually start to buy them.'
The market for these plates is growing, with some plates seeing a 200 per cent increase in value over a two to three-year period.
'I still think even now the market's quite underpenetrated. A lot of people still don't know what these plates are. Slowly the market is growing and they are getting a lot more attraction,' said Ramy.
What are your thoughts on this story? Have you ever spotted a low-numbered plate on the road? Share your experiences in the comments below.
Sometimes, it's the seemingly insignificant detail that holds the most value.
This was the case with a Mercedes recently spotted on a quiet Melbourne street, which sported a detail worth over $10 million.
This detail? A heritage number plate.
A parked Mercedes was seen to have a heritage plate worth over $10 million. Image source: Facebook.
Heritage plates, or numerical plates, have become a hot commodity in recent years.
This booming market has seen some plates fetch millions of dollars at auctions or through private sales, and the principle is straightforward: the lower the number, the higher the value.
The most coveted of these is the black VIC 1 plate, reportedly owned by Peter Bartels, former CEO of Coles and iconic Aussie beer brand Fosters.
According to Ramy Attia from Heritage Only, a premium marketplace for heritage plates, this premier plate could be worth well over $10 million. Plate enthusiast and collector Lachlan Quayle suggests it could fetch as much as $15 to $20 million at auction.
The value of these plates is akin to real estate. 'If you buy in the good areas, it goes up over time,' explains Lachlan. In Victoria, any plate from 1 up to 285,000 is considered a heritage plate. These were the first ever number plates issued in the state, available between 1932 and 1939, and were handcrafted for VIPs and distinguished Victorians.
Today, VicRoads holds these plates and releases them into circulation gradually, available for purchase only via private sellers and auction houses.
While these plates can be spotted regularly on the roads, snagging one up is still difficult.
'Quite commonly, all the single digits are sort of held tightly by families and they usually get passed on from generation to generation,' Ramy Attia shared.
'So it's very rare for any of these ever to actually hit the market and become available for purchase.'
'Basically, once you have it, you'll be holding on to it for a lifetime. And I guess that's why [VIC 1] is the most desirable.'
These plates are not just a status symbol but also a sound investment. They increase in value over time, with some collectors arguing they're a more valuable asset than property or shares.
'There is no land tax, stamp duty, council rates or management fees, which makes them a unique asset,' Ramy explained.
But what makes these plates so appealing? For Lachlan, it's the rarity and the stories behind them.
'Either the family or a business person owns the plates because some of them are quite expensive. They've got a lot of stories behind them,' he said.
Lachlan, 23, runs a popular Facebook page, Exotic Car Spotting Australia, which currently has over 12,000 members. It all started with his love for cars, which soon turned into a passion for plate spotting around seven years ago.
'I've always been interested in cars, then I started to notice single-digit plates. It was only when I grew up a bit and started to earn a bit more money that I could actually start to buy them.'
The market for these plates is growing, with some plates seeing a 200 per cent increase in value over a two to three-year period.
'I still think even now the market's quite underpenetrated. A lot of people still don't know what these plates are. Slowly the market is growing and they are getting a lot more attraction,' said Ramy.
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