X1Uli Deck/DPA/Press Association Images

What can you spend your money on if you already have the coolest car, the swankiest alloys, the tinted windows, go faster stripes and branded picnic rug? How about a personalised car registration plate? In fact, how about the most expensive UK personalised registration plate of all time?

It has just gone on sale for an astonishing £1 million. So what's the plate, and why such an eye-watering price?


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The plate

The number plate in question is X1 - which has just been put on sale by Regtransfers.co.uk with this astronomical asking price.

The plate originated in 1903, when it was issued by Northumberland County Council. It was thought to have been acquired by the chairman of a committee which campaigned for the changing of motoring laws - which at the time meant cars could drive no faster than 4mph in the country, 2mph on the town, and a man with a red flag would have to walk in front of the car to warn pedestrians that it was approaching.

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When the committee was successful, the chairman was issued with the plate.

Most expensive

It is by far the most money ever asked for a number plate in the UK. The record at the moment is held by F1, which was sold for £375,000 in 2008 to Bradford businessman Afzal Kahn. The website has also sold 1 HRH for £113,815 and 1 O for £210,242.

The site is confident of a quick sale, saying it is an iconic plate, which will attract interest across the world. It has said it will advertise at this price for two weeks, before putting the plate up for auction.

It speculated whether owners of the BMW X1, or the McLaren X1 concept car would be interested - whether executives at Xerox could snap it up, or those with the family name Xi.

Investment

It's a crazy sum of cash, and only time will tell whether it reaches this asking price. However, the website is keen to point out that there are a growing number of collectors, and that if you happen to stumble across an attractive number, you can make money from your personalised registration number over time.

It uses the example of HEN 2Y, which was bought for £6,300 in 2005, and sold for £20,000 five years later. Alternatively there's OBR 133N, which was bought for £650 on February 2011 and was sold seven months later for £3,500.

But what do you think? Is there anyone out there crazy enough to spend £1 million on a car registration plate? Let us know in the comments.

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