Auctions of personalized license plates generate HK$600m in revenue, says transport chief

Revenue generated from over 160 auctions of personalized vehicle license plates has accumulated to almost HK$600 million, said Secretary for Transport and Logistics Lam Sai-hung.

In his blog published Saturday, Lam said about 40,000 personalized license plates have been sold since the auction scheme first came in 2006.

Lam also recalled that the priciest license plate was the one with a single letter “W” on it. It was sold for HK$26 million after 119 bids in March two years ago, marking a 5,200-fold jump from the base price of HK$5,000.

The list continued with “V” sold for HK$13 million in February 2017, and “VV” sold for HK$9.3 million in February 2018.

The license plate “1 L0VE U” fit for romantics sat at the sixth place at HK$1.4 million in September 2006.

Lam noted that the revenue close to HK$600 million will be counted as a part of the government’s general revenue and used for social development.