If you own a cherished number plate or personalised number plates, the time may come when you think about selling them.  There are several options for this, depending on how much you wish to ask and how long you can wait for a potential buyer.

Several websites advertise number plates for sale.  You can sell your plate outright to a private party or a company.  The company will probably turn around and try to sell it for a profit.  This may be a good choice for you if you need money quickly or don’t want to deal with the paperwork and DVLA reporting that will need to accompany the transfer.  The company that you sell to will usually take care of all of that for you, but because of the speed of the sale and the company’s work on your behalf, you’re not likely to get the highest prices. 

Other companies can agree to sell your plate on a commission basis, where they take a commission on the total sale price of your registration plates.  The company will of course then be interested in selling the plate for a higher price, but keep in mind you may net less with this scheme, depending on the final selling price and the commission percentage.  However, there is often a chance that you can request a “reserve” or minimum price, below which you will not accept an offer. 

When selling your private number plate or cherished plate through a company; make sure to read all the fine print so you know what is expected of each party.  Don’t allow yourself to be rushed through the transaction – remember, your plate is worth something or the company wouldn’t be interested.