Owning your own private number plate in the UK is a great asset but there may come a time when you want to sell it - either to buy another plate or to get a good price. However, like selling anything of value you need to be careful whose advice you take on the asking price. Make sure you visit at least three different dealers and get an independent valuation from all three.

Obtaining three different independent prices will give you an idea of the going rate but also make you aware if any of the dealers appear to be hugely undervaluing or even over valuing your registration plate. The reasons why a dealer may offer you a lower price should be obvious but also look out for the dealer that offers more money just to get the sale. Doing as much research on the market as you can is also a great idea as it gives you an indication of worth.

Most private number plate dealers are pretty trustworthy and do their research well in order to give you a fair price. They often have large databases to utilize that will give them pricing trends and allow them to track the current market. They will usually know what a similar number plate to yours has sold for in the past and will be able to judge accordingly.

Nowadays, most dealers also offer an online valuation service that can give you a guide price and these are great places to check on the value of your registration plate. Unfortunately for everyone, there is no official guideline regarding registration prices so you are really dependent on the dealer who offers you the highest price.

The Cherished Numbers Dealer Association does however offer a certifiable valuation service which many of the professionals like accountants, lawyers, HMRC and insurance companies will take into account. The starting rate for Cherished Numbers Dealer Association valuations is 50.00.

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