Lunar New Year License Plate Auction Guide: A Complete Outline of Value, Procedures, and Auction Process
Every year during the Lunar New Year, Hong Kong's license plate auctions attract the attention of numerous car owners and investors. The 2025 Lunar New Year license plate auction will be held on February 16th at the Wan Chai Convention and Exhibition Centre. Highlights include license plates without a prefix "88" and those with the single letter "S," with expected sale prices exceeding HK$8 million and HK$10 million respectively. These license plates are not only symbols of status but also sought-after investment and collectibles. This article will provide you with comprehensive guidance, covering the highlights of the license plate auction, historical sales records, bidding process, and transfer procedures
Highlights of the Lunar New Year License Plate Auction
Among the 49 license plate numbers announced by the Transport Department for this auction, many have auspicious meanings, including "WW 888", "HK 8000", and "FU 1111". However, the following two license plates have attracted the most attention:
No prefix "88"
Symbolizing good fortune: The number "88" sounds like "fa fa" in Chinese, making it an auspicious number in the eyes of Hong Kong people.
Extremely rare: It has not appeared on the auction market for the past few years. Experts estimate that the bidding price will exceed HK$8 million, and may even break through HK$10 million.
Competition is fierce: Experts predict the auction will last at least 20 minutes, attracting many wealthy individuals to join the bidding.
Historical background: In the past, license plates with the prefix "8" have always been popular. For example, the license plate "8" was sold for HK$5 million in 1988, while "28" and "18" were sold for HK$18.1 million and HK$16.5 million respectively.
The English word "S"
Symbolic meaning: It belongs to the water element in the Five Elements theory and represents "the first period" in the Nine Palaces Flying Star numerology. It is also associated with the "Superman" logo.
Rare collectible: License plates with English words have always been regarded as a symbol of status, and the transaction price may exceed HK$10 million.
Market assessment: License plate dealers describe this plate as "a must-have for the super-rich," a collectible that you fall in love with at first sight.
Other notable license plates
License plates with four identical characters, such as "FU 1111" and "EK 2222", are popular due to their symmetry and the auspicious meaning of the numbers.
Lucky number license plates, such as "HK 8000" and "RA 28", symbolize abundant wealth.
Records of record-breaking license plate transactions over the years
A review of past auction records shows that many license plates have fetched record prices
The license plate with the letter "W"was sold for HK$26 million in 2021, setting a record high price.
The license plate with the letter "R"was sold for HK$25.5 million in 2023.
The license plate with the letter "D"was sold for HK$20.2 million in 2024, ranking third.
The "V" license platewas sold for HK$13 million in 2017, symbolizing victory.
These figures show that single-character license plates and license plates with auspicious numbers are extremely attractive in the market, and are highly sought after by the wealthy and collectors
The upcoming physical auction
(Applicable to registration numbers beginning with "HK" or "XX", special registration numbers, and customized vehicle registration numbers)
Lunar New Year vehicle registration numbers auction:
Date and Time: 2:30 p.m., Sunday, February 16, 2025
Number of Auction Numbers: 49
Location: Meeting Room N201, L2 Floor, Hong Kong Convention and Exhibition Centre, Wan Chai
Details
Upcoming auction of custom vehicle registration numbers:
Date and Time: 25 January 2025 (Saturday) 9:25 AM
Public Auction Numbers: 100
Location: Meeting Room N201, L2 Floor, Hong Kong Convention and Exhibition Centre, Wan Chai
Details
The Convention and Exhibition Centre has multiple venues. Please refer toon the map to reach Meeting Room N201. If you are driving, please refer todriving directions to the auction location.
In addition, an auction of traditional vehicle registration numbers (registration numbers beginning with "HK" or "XX" and special registration numbers) will be held, with the timing to be announced by the Transport Department
Physical auction process and precautions
process:
Application and deposit payment: Applicants are required to pay a deposit of HK$5,000 and attend the auction to participate in the bidding.
Auction in progress: The auction will be conducted by raising numbered paddles. Bidders must raise their numbered paddles and face the auctioneer, or they can shout out their bids.
Successfulbidders must immediately sign the "Auction Payment Commitment" and the "Custom Vehicle Registration Number Sale Memorandum," and pay by "EasyPay" or crossed cheque.
Number Allocation: After the auction, the buyer will receive a "Custom Registration Number Allocation Certificate" proving ownership of the number. The buyer must allocate the number to a vehicle registered in their name within 12 months of the auction.
Notes:
Auction Rules: Each lot has a starting price of HK$5,000, and the highest bidder wins. In case of dispute, the auctioneer's decision shall prevail.
Payment requirements: Promissory notes, cash or other payment methods are not accepted. Uncashed checks will be considered a breach of contract.
Number display regulations: The arrangement of numbers (single or double line) shall not be changed and must comply with the legal requirements for letter/number spacing and space width.
Arrangements for severe weather: In the event of Typhoon Signal No. 8 or Black Rainstorm Warning, the auction may be postponed. Details will be provided by the Transport Department.
Legal responsibility: Buyers must comply with relevant regulations; violations may result in the cancellation of number allocation and legal prosecution.
*Bidders are advised to read the Important Information Regarding the Customized Vehicle Registration Number Auction before attending the auction . For inquiries, please call the hotline at 2804 2600.
The upcoming license plate auction
Date and Time: February 20, 2025 (Thursday) 12:00 PM - February 24, 2025 (Monday) 12:00 PM
Number of Auction Numbers: 50
Location: See the "Easy Auction" website
for details.
Detailed Explanation of the Online License Plate Auction Process
1. Register an account
Online registration: Register through the Transport Department's "Easy License Plate" platform. Users can choose to register using "Smart Convenience+" or by email.
Identity Verification: After completing the registration, you must go to the designated location in person to verify your identity.
2. Select license plate
Search function: Users can search for their favorite license plate numbers through the "Paipaiyi" platform.
Screening tools: The platform provides a screening function, allowing users to select license plates according to their preferences.
3. Bidding Method
Single bid: Users can submit a single bid directly during the auction.
Automatic bidding during the auction: Set a maximum amount, and the system will automatically place bids for the user until the limit is reached.
Pre-set automatic bidding: Set the maximum amount within 5 days before the auction starts, and the system will automatically place bids after the auction begins.
4. Bidding Notice
Highest bidder: If a user is the highest bidder, their status will be displayed in green.
Overtake Notification: If your bid is overtaken, you will receive an email notification.
5. Successful bid
Confirmation Email: After a successful bid, users will receive a confirmation email and payment instructions.
Payment deadline: Payment must be completed within 48 hours.
6. License plate misuse and procedures
If a successfully bid license plate needs to be applied to a vehicle, the user can choose to "keep the plate" or apply it directly, and will need to pay the relevant handling fee
License plate transfer and procedures
Keep cards and decks
License plate retention: The license plate number will be retained for future use. The handling fee is HK$560 and the validity period is 12 months.
plate: Using a license plate number on a vehicle. The cloning procedure itself is free, but a registration fee of HK$100 is required.
License plate transfer restrictions
Special license plates (such as "88") are usually marked as non-transferable, and the owner cannot sell or transfer the vehicle directly
A license plate can only be used on other vehicles registered under the same owner's name, or the license plate can be transferred along with the vehicle
Precautions
Procedure order: If multiple procedures need to be completed (such as retaining a license, cloning a license, or transferring ownership), special attention should be paid to the order of application to avoid affecting the outcome.
Document preparation: Vehicle registration documents and relevant certificates are required when applying.
If I switch to a new license plate, will my car insurance not be covered?
After transferring the license plate, you need to apply for a new license plate at the Transport Department. After three or full insurance, a new license plate will be provided to the insurance company for updated data records. It will take about a month to issue the declaration form. Some insurance companies need to charge a handling fee, which is about $200 to $500. Although the procedure takes time, since the information of the car owner and vehicle has been recorded in the policy and file information, if an accident occurs during this period, the car owner or a third party will also be protected. The coverage depends on the scope of the insurance plan you purchased. It is recommended that car owners who buy a new license plate of their choice contact their insurance company or broker as soon as possible, and check the coverage and expiration date of the triple insurance or full insurance they purchased! You can contact AWM car insurance experts for relevant information
The potential of investing in license plates
License plates are not only a symbol of identity, but also a potential investment. Here are
the advantages of investing in license plates:
Rarity: Special license plates, such as those with single characters or auspicious numbers, have limited supply and potential for appreciation.
Collectible value: High-priced license plates often become collectibles, attracting license plate enthusiasts and the wealthy.
Liquidity: The license plate auction market is active and offers good resale opportunities.
The Lunar New Year license plate auction is a feast showcasing financial resources and discerning taste. Whether you win a plate with no prefix like "88" or a single character like "S," car owners need to understand the relevant procedures and auction process. Choosing the right license plate and adhering to the auction rules will make the bidding process smoother for you
Source: Transport Department