Vanity License Plate Sold at Auction for World Record $15 Million in Dubai

A wealthy anonymous bidder paid 55 million Emirati dirhams, roughly $15 million, for a license plate at an auction in Dubai. The world record amount was spent for Dubai’s “P 7” license plate, breaking the previous record by over $750,000. Absurdly low license plate numbers have long been considered a status symbol in the United Arab Emirates and have been auctioned off to the Gulf state’s ultra-wealthy.

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According to Bloomberg, the “P 7” license plate was sold at an auction organized by Emirati Auctions, a UAE auction house specializing in vehicles and license plates. The auction’s proceeds were donated to the 1 Billion Meals Endowment, a global food aid fund. The endowment fund was established by Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai and the UAE’s Vice President and Prime Minister.

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