DVLA Auction Tips For First Time Personalised Registration Number Buyers
DVLA Auction – You may have heard these two words but failed to realize what they stand for. You could remain ignorant for the rest of your life, but not if you decide to register a personalised number plate for your car. Then it’d be useful for you to understand what DVLA auctions are and how you could participate in them.
DVLA auction is where personalised registration numbers are bought and sold. There’s a huge market for private number plates in UK. Many car owners prefer number plates with personalised design and inscription for their cars. Such registration numbers are authorised by the DVLA.
DVLA is not just a registering authority; it also organises auctions where people bid for their favourite registration numbers. When DVLA auctions are hosted, several combinations of letters and numbers are showcased. If a car owner likes a particular registration number, he’d have to bid for it and if his bid is the highest one, he’d get the number.
DVLA has been selling private number plates in auctions since the mid 80s. Certain registration numbers that have initials of names, or letters resembling a meaningful word, or specific combination of numbers were reserved by the DVLA so they could be lodged in auctions.
Such auctions still take place and many car owners participate in them. Before attending DVLA auctions, it’s essential to know few things about them.
Why buy at DVLA Auction?
There are plenty of reasons to buy at DVLA auction. First, you could get a personalised number plate at a pocket-friendly price. Don’t make wrong meaning of the “pocket-friendly” though; the price may not be dirt cheap, but cheaper than the average market price.
That’s one of many benefits. Another one is being able to choose between scores of registration numbers. If lucky, you may find a combination the letters or numbers of which somehow relate to you. The numbers may remind you a day when you were happily surprised. The letters may ring a bell about someone whom you miss.
Are You Not Comfortable?
Some people are not comfortable taking part in an auction. Are you one of them? Do you think you’ll be cheated in DVLA auction? You can rest fully assured knowing DVLA auctions are fully authorised and securing the interest of the buyers is their priority.
In case you are worried you’d end up buying an overvalued number plate, you should know this; majority of registrations, issued by DVLA for the auction, only meet the prefixed reserve price. A good number of registrations don’t get sold because they don’t meet the reserved price. Those registrations are sold on later dates. They are sometimes showcased for 2 days after the sale at the set price. If they are being sold, the buyer would have to pay 8% premium and VAT.
DVLA Wants to Help
The most reassuring thing is DVLA wants the buyers to feel comfortable and provides them with a host of facilities. You can straightway visit DVLA’s website by clicking here. You could find all the information you need regarding auctions on the website itself. If you spend some time on the site, you could get the date for future auctions.
There’s a tab called Keep Me Informed at the top of the homepage. If you click there, you’d land on the subscription page. Subscribing to DVLA auctions means you’ll be getting all the latest updates regarding the auctions.
Know the Meaning of Few Terms
You’ll get most of the information related to auction on DVLA’s official site. But there are few things that you won’t find there. If you are a first time participant, it’s important to know the meaning of few inside terms. One such term is ‘English Auction’. It means the bidding process will start with a low bid and as it continues, the value of the bid will increase.
‘Dutch Auction’ means completely the opposite. The bidding opens with a high asking price and then it slowly plummets. ‘Catalogue’ means the complete list of items that are to be displayed in the auction. ‘Closed Auction’ doesn’t mean the auction is closed. It means the auction is open only for invited buyers.
Knowing the meaning of these terms could help you. Otherwise, you’d have to ask others and grasp whatever explanation they’d give. During the auction when excitement would be high, your brain will be jammed. So insert all the knowledge related to these non-literal terms beforehand.
After attending one or two auctions, you’d be a pro. Then you won’t need any tips or suggestions. The first time is the most difficult time. Follow the tips discussed in this article to make it smooth.