Vietnam's 1st auction of car number plates fetches $3.4M

By Pham Du   September 15, 2023 | 08:37 pm PT
Vietnam's 1st auction of car number plates fetches $3.4M
A screenshot of an auction website shows number plate 31K-555.55 in Hanoi put up for bids.
The country’s first ever auction of auto license plates on Friday saw 11 of them, commonly considered “beautiful,” bought for VND82.3 billion (US$3.4 million).

A HCMC number, 51K-888.88, won the highest bid of VND32.34 billion after rising to VND10 billion in less than 10 minutes.

The second highest was for 31K-555.55 in Hanoi, which went for VND14.1 billion.

Another Hanoi plate, 30K-567.89, fetched VND13 billion.

The other numbers auctioned were 36A-999.99, 99A-666.66, 98A-666.66, 19K-555.55, 65A-399.99, 47A-599.99, 43A-799.99, and 15K-188.88, and were bought for VND650 million-7.4 billion.

The winners are required to pay within 15 days, and register them within 18 months for a designated car. Failure will see the license plate revoked and the bidder lose the deposit of VND40 million they made to join the auction.

People who failed to win any number will get their deposits back.

Police in some cities and provinces have been seeking permission from the Ministry of Public Security to auction car number plates for several years now.

The National Assembly passed a resolution in November 2022 approving it on a trial basis.

The ministry has since issued a list of 153,102 numbers to be auctioned.

 
 
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