A historic New South Wales double-digit number plate has sold for over $1.5 million.
The No.70 plate sold on Thursday for $1.58 million.
Lawsons Auctioneers and Valuers managing director Martin Farrah told 7NEWS.com.au the bidding war went down to the wire.
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“The online auction was up for almost two weeks with over 20 bidders taking the bidding to $1.47 million,” he said.
“With 10 seconds left on the clock, a new bidder arrived on the scene and battled it out with one other to land the result at $1.58 million.”
Farrah said the buyer was a “seasoned collector” of low number license plates.
“(He) is thrilled to be adding this one to his important collection,” he said.
Lawsons originally estimated the plate would sell anywhere between $1.5 million and $1.8 million.
The plate had been held by a “prominent” Sydney family since about 1920, the auction house said.
The buyer can continue to use the plates in their current condition or can pay Service NSW to have them remanufactured in the new style.
Earlier this year, a NSW No.1 one number plate sold for $11.5 million.
When the plate was put up for sale last year, it was the first time it had been listed for public auction in 110 years.
On Monday, a rare South Australian No.8 licence plate sold for $2.3 million, setting a new state record for the most expensive sale of a car plate.
In 2020, a No.1 plate was auctioned at the Adelaide Grand Prix for $593,000.
Historic Plates auctioneer Stewart Kay said the older the number plate and lower the number, the higher the return.
He said compared to other vintage items, the sale of car number plates has continued to give owners a good return.
“Number plates are a very historic connection back to 120 years ago when they were first issued,” Kay said.
“They’re sort of triple threat, they look fantastic on a car, they have a great return in terms of investment and they have a certain level of prestige to them.”
“People collect vintage watches, people collect old cars, shares, all of those equities (and) number plates have pretty much outperformed all those if you look at what they’re worth now.”
