Biển số 30K-999.99 sets record at 75 billion but re-auctioned for only 30 billion
The world of car license plate auctions is always full of surprises. On April 5th, several car license plates were put up for auction in various provinces in Vietnam, including Hai Phong, Hai Duong, Hanoi, Tien Giang, and Ho Chi Minh City.
A Record-breaking Auction
During the auction from 10 am to 10:25 am, the license plate with the number 30K-999.99 from Hanoi was sold for a staggering 30.655 billion Vietnamese dong. This license plate had previously set a record when it was auctioned on January 13th for a whopping 75.275 billion Vietnamese dong.
The Re-auction
Despite holding the auction record, the winning bidder failed to fulfill their financial obligations, resulting in the license plate being re-auctioned. This license plate, known as the “Quintuple 9”, holds significant value, especially because it is paired with the prefix of Hanoi. The number 9 symbolizes eternity, completeness, and fulfillment, making it highly sought after.
Another Auction in the Works
On the afternoon of April 10th, another “Quintuple 9” license plate with the prefix of Ho Chi Minh City, 51K-999.99, will be auctioned off. This further proves the popularity and demand for these special plates.
The Importance of License Plates
License plates have become valuable assets in Vietnam, with collectors and enthusiasts willing to pay significant sums to own unique and meaningful combinations. In previous auctions, a license plate designated for vehicles in Quang Ninh, with the number 14A-888.88, was sold for 17.3 billion Vietnamese dong. This same license plate was previously auctioned on January 4th, with a winning bid of 21.855 billion Vietnamese dong, but the bidder did not fulfill their financial obligations.
New Auction Regulations
According to new regulations, the duration of license plate auctions has been reduced from 60 minutes to 30 minutes. This timeframe includes the official auction time and any possible extension periods. The auction itself lasts for approximately 25 minutes, while the extension periods, called “gia han” in Vietnamese, allow qualified participants to continue bidding. Each extension period lasts for 30 seconds, and there can be a maximum of 10 extension periods.
Straight Transfer for Single Bidders
If only one person registers and qualifies for an auction, the license plate will be directly transferred to that individual without further bidding. This change aims to streamline the process and provide a more convenient experience for single bidders. The winning bidder will receive a notification and a confirmation document, which they must acknowledge within 120 minutes.
This auction demonstrates the allure and value of unique license plates, with the “Quintuple 9” license plates being particularly sought after. As they hold symbolic meaning and are tied to prestigious cities like Hanoi and Ho Chi Minh City, it is no wonder that they command such high prices.
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