Since the policy of auctioning premium license plates was implemented, numerous transactions for buying and reselling license plates for profit have emerged on social media groups.
Specifically, premium license plates are bought by professional bidders, who then resell them at a markup ranging from tens to hundreds of millions of VND.
However, according to Circular 24/2023/TT-BCA, auctioned license plates can only be transferred once and must be attached to a vehicle. The winning bidder has a period of 12 months to affix the license plate to the vehicle. If the deadline is missed, the license plate will be recalled.
Consequently, if, within the 12-month period, license plate traders are unable to sell the premium license plates they had previously acquired, they face a high risk of significant losses.
As Tet approaches, some forums have advertised premium license plates such as 30L-255.55, 30K-922.99, and 43A-879.79 at prices significantly lower than the auction results publicly announced on the auctioneer’s website.
Notably, license plate 30K-788.88 is being offered at 720 million VND. Previously, on April 10, 2024, this license plate was publicly sold for 955 million VND. As a result, the seller is facing a loss of over 200 million VND.
These traders’ sales of license plates below the auction price are considered a “warehouse clearance,” attempting to recoup some capital before the plates are recalled.
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On September 4, the Ministry of Public Security approved the plan for the fifth auction of car license plates, with a total of 388,389 license plates up for grabs.
The list includes all 63 provinces and cities. Hanoi has the highest number of license plates with 56,410, followed by Ho Chi Minh City with 53,860.
According to the Traffic Police Department, as of September 4, there have been 207 auction days. A total of 1,268,852 license plates have been auctioned, with 35,563 successful auctions, and a total auction value of over 32.813 billion VND. Notably, the winning bidders have paid a total of 3,026 billion VND.
Some license plates fetched high prices, such as 51K-888.88 for 15,265 billion VND, 30K-555.55 for 14,495 billion VND, 11A-111.11 for 8,780 billion VND, 72A-77777 for 6,850 billion VND, and 88A-666.66 for 6,705 billion VND.
TH (Tuoitrethudo)
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