Australian Number Plates as an Investment: The Data Is Jaw-Dropping

If someone had told you in 1988 that a number plate would outperform the Sydney property market, you'd have laughed them out of the room. But that's exactly what happened — and the numbers back it up.

This is the story of how Australian heritage number plates became one of the country's most quietly extraordinary asset classes, and what the data tells us about where the market is heading.

The VIC 14 Story: A 2,927% Return in 34 Years

In 1988, Victorian heritage plate number 14 sold at a Shannons Motor Show Auction for $75,000. By most measures, that was serious money at the time — enough to buy a house in many parts of regional Australia.

In May 2022, the same plate went under the hammer again at Shannons' Autumn Timed Online Auction. The hammer price: $2,270,500 — with buyer's premium taking the total to $2,383,500.

That's a return of 2,927% over 34 years, or roughly 86% per year compounded. To put it in perspective:

• A Melbourne house purchased for $75,000 in 1988 would be worth approximately $650,000 today

• The same amount invested in gold would have returned roughly $270,000

• The ASX All Ordinaries, one of the world's better-performing indexes, returned approximately 10% annually over the same period

Shannons national auction manager Christophe Boribon, who brokered the original 1988 sale, summed it up best: "You tell me what has appreciated like that in 25 years. Nothing has appreciated like that."

A Decade of Record-Breaking Sales at Shannons

The VIC 14 story is exceptional, but it doesn't stand alone. Looking at Shannons auction results across the past decade paints a picture of a market in sustained, accelerating growth:

2017 — NSW plate '4' sells for $2.45 million, setting the all-time Australian record at the time

2019 — VIC plate '916' sells for $108,000 — a three-digit plate entering six-figure territory

2020 — VIC plate '26' sells for $1.1 million, setting a new two-digit Victorian record

2021 — VIC plate '96' fetches $830,000 at Shannons' April auction; 'birth year' plates surge in popularity with VIC '1997' selling for $132,000 and VIC '2009' for $115,500

2022 (Winter) — NSW '28' sells for $2,000,500, breaking records; NSW '606' goes for $370,500; VIC '530' fetches $466,500

2022 (Autumn) — VIC '14' reaches $2,270,500; VIC '6969' sells for $330,000; QLD Q-plate 'Q-226' fetches $202,500

2023 — VIC '52' sells for $1,457,000; NSW '31' fetches $1,648,000; three-digit plates like VIC '535' now commanding $500,000+

2023 (December) — NSW plate '1' listed with an estimated value of $12+ million

2024 — VIC single-letter 'Signature Plates' set new records: 'V' attracts significant interest; VIC 'FF' sells for $200,000; VIC 'GG' for $210,000

What's Driving the Appreciation?

The data shows clear patterns in what makes a plate increase in value:

Rarity is everything. Victoria issued only 285,000 heritage plates before 1939, and only 90 of those were two-digit combinations. With finite supply and growing demand, auction theory does the rest.

Lower numbers command exponentially higher prices. VIC single-digit plates are estimated at $3–10 million today. Two-digit plates range from $900,000 to $3 million. Three-digit plates now regularly exceed $500,000. The step-change between digit categories is dramatic.

The COVID effect accelerated the market. Shannons moved its auctions online in 2020, dramatically expanding the pool of bidders. What had been a specialist collector market became accessible to a much wider, wealthier audience — and prices reflected it.

Birth year plates found their moment. Plates corresponding to years (particularly 1990s–2000s birth years) surged as a new generation of affluent buyers entered the market wanting personally meaningful plates. VIC '1997' for $132,000 is a striking example.

The 'enjoyment asset' premium. Unlike most collectibles that sit in storage, a plate can be displayed on your car. Collectors are willing to pay a premium for assets they can use and show — a dynamic that keeps demand sticky even when other investment categories cool.

The Personalised Plate Market: A Different Story

It's worth noting that the extraordinary returns described above apply primarily to heritage/numeric plates — the old black-and-white enamel plates issued before the 1950s. These are classified in a different category to modern personalised plates (like HUSTLA or MYDAD).

The personalised plate market is a different beast: more liquid, more accessible, and with a broader range of outcomes. A personalised plate spelling a common name, a popular word, or a car model can still command thousands — sometimes tens of thousands — on the secondary market. A plate like 'JAMES' or 'TURBO' is worth meaningfully more than what it cost to register.

The key drivers of personalised plate value are similar to heritage plates: rarity (how many people want this combination?), length (shorter is more valuable), and cultural relevance (timeless words outperform trend-driven combinations).

Is the Market Still Growing?

All available evidence suggests yes — though the extraordinary post-COVID surge has moderated to a more sustainable pace.

Shannons closed its auction division in late 2023, citing a changing market landscape with more competitors offering frequent online auctions. But that closure reflects market maturation and democratisation, not decline. Plates are now trading on a wider range of platforms, more frequently, and to a broader buyer base.

The entry of private auction platforms like Signatures Australia suggests the high end of the market remains robust, with single-letter Victorian plates now attracting bids in the $500,000–$720,000 range.

And at the top of the market, the NSW '1' plate — last sold in the 1930s — is estimated to be worth upwards of $12 million if it ever comes to market. VIC '1', currently owned by former Fosters CEO Peter Bartels, has reportedly attracted offers exceeding $1 million that were turned down. Industry observers now estimate it could fetch $10–15 million at auction.

What This Means If You Own a Personalised Plate

You might not own a heritage two-digit plate. But if you own a personalised plate with a desirable combination — a short word, a common name, a popular abbreviation — it's almost certainly worth more today than when you registered it.

The question worth asking is: do you know what your plate is actually worth on the secondary market? For many Australians, the answer is no — they registered a plate, stuck it on their car, and haven't thought about its market value since.

That's the gap AusPlates is designed to close. Our marketplace connects sellers who have desirable plates with buyers actively searching for them — with transparent pricing and no commission on the sale. If you've been sitting on a plate wondering what it's worth, listing it is free until 30 April 2026 for founding members.

Data sourced from Shannons Auction historical results, CarExpert, DMARGE, and Signatures Australia. Auction prices are hammer prices unless otherwise stated and exclude buyer's premiums.