Sunday Times Article - May 8th 2005

UP TO SPEED

Fastest numberplate in the land

A registration plate bearing the Formula One initials F1 is expected to become the UK's most expensive numberplate to change hands when it goes up for auction this summer. F1 is being sold by Essex county council to raise money for road safety. To beat the current record it will need to fetch more than £231,000, the price paid by the Sultan of Brunei for K1 NGS in 1993.

F1 was originally owned in 1904 by Percy John Sheldon, the Essex county surveyor, and attached to his 15hp Panhard Levassor four-seater. It was given back to the council in 1955 after a period in private ownership. Essex is also selling a 1F plate it expects to raise £150,000.

Council officials clearly have Bernie Ecclestone, boss of Formula One, in their sights. "The plates are particularly suited to rich individuals involved in F1 racing," a spokesman said. "At the start of the Formula One season last year we asked for expressions of interest in F1. Since then we have received high six-figure offers for the plate - some well in excess of £231,000."

Investing in rare personalised numberplates is big business. The DVLA earned £75m from sales in 2004. Among the most expensive registrations are 1 A, sold in 1989 for £200,000, S1 NGH sold in 1998 for £108,000, 1 RR sold in 1994 for £106,000, 1 S sold in 1990 for £100,000, G1 LLY sold in 1990 for £87,500 and 1 MK, sold in 2002 for £83,500.