In 2012 £67m was raised by the DVLA from the sale of personalised registration number plates and below are the ten most expensive paid. This is despite the economic downturn.

Personalised plates are not a new phenomenon and have been around for years and have only been held back for since the early eighties. Four styles are available, based on the format of plates issued in different eras:

•  Current – AB51 ABC (2001 – present)
•  Prefix – A123 ABC (1983 – 2001)
•  Suffix – ABC 123A (1963 – 1983) D
•  Dateless – 1234 AB, or 1 AB ( Any Pre-1963)

The plates that are dateless, which can be any combination of up to four numbers, followed by up to three letters – or vice-versa – more often than not tend to be the most desirable because they hide a vehicle’s age. They are also only sold at auction. It is very common for registrations to be altered slightly with a strategically placed black screw head or by asking for the number plate letters and numbers to be spaced differently to change how it is read. (Incidentally, these number plates can be made but not for the public highway). Any alteration of a number plate, including the two examples mentioned, render the plate illegal and subject to a fine and/or penalty points.

Plates which identify an age – such as 10 for 2010, or prefix L for 1993 – can only be used on a vehicle of equal age or newer but are still popular as they disguise the fact that a vehicle is four years old for example. Reg’s can be transferred to other vehicles – for a fee – but once a car is scrapped the registration cannot be resurrected.

Lord Alan Sugar is a famous owner of a private plate: AMS and they are regularly used in films and TV series to hint that a character is a braggart or an egomaniac or just a bit desperate for attention. The Saint is another example – ST1. In Goldfinger, the villain had AU 1 on his 1937 Rolls Royce.

Commercial business also use private plates to attract attention – cheap minicab insurance companies, compare fleet insurance companies, cheap taxi insurance and cheap courier insurance firms all purchase these plates for commercial kudos.

For the thousands of drivers who actually have personalised number plates, they are regarded as a statement of individuality or an investment. To many of the vast majority that don’t have one they’re an ostentatious waste of cash.