Dubai: license plate sells for $15 million in charity auction, shattering world record
Dubai: In Dubai, a rare car license plate has been sold for a world-record price of 55 million dirhams ($15 million or ₹ 123 crore) to a wealthy bidder, breaking the previous record set in the United Arab Emirates over ten years ago. The sale of this highly sought-after license plate has made headlines around the world.
During a charitable auction organized by Emirates Auction LLC, plate number P 7 was sold for a staggering 55 million dirhams ($15 million or ₹ 123 crore) on Saturday. The unique license plate appears to show only the number 7, with the letter P situated off to the side. The auction's proceeds will benefit the 1 Billion Meals Endowment, a global food aid initiative led by Dubai's ruler, Sheikh Mohammed bin Rashid.
Charitable auctions of vanity license plates have become a regular occurrence in the UAE, allowing the ultra-wealthy to display their status and affluence while giving back to the community. The most recent auction shattered the previous record set in 2008 by businessman Saeed Abdul Ghaffar Khouri, who spent 52.2 million dirhams on a license plate featuring the number 1 in Abu Dhabi.
The identity of the individual who paid a staggering 55 million dirhams ($15 million or ₹ 123 crore) for the coveted P 7 license plate remains undisclosed.
Not only in the Middle East, but vanity plates have also commanded exorbitant prices elsewhere. Earlier this year, a single-letter "R" plate was sold at an auction in Hong Kong for an eye-watering price of HK$25.5 million ($3.2 million).
Dubai has long been a haven for the super-rich to showcase their affluence and enjoy a tax-free lifestyle. Despite concerns over economic instability in other parts of the world, the emirate's economy continues to thrive, boosted by high oil prices that also benefit neighboring countries and top customers. The influx of wealth has helped bolster the real estate market, making Dubai an even more attractive destination for the wealthy.
Dubai's relatively low sales tax rates compared to other countries have made it possible for even moderately-paid expats to purchase high-end cars. However, the recent pandemic-related economic upswing has led to a surge in rent prices, putting a strain on middle-class residents.
In 2016, businessman Balvinder Singh Sahni, also known as Abu Sabah, bought the license plate D 5 for 33 million dirhams. In an interview on Monday, he described Dubai as a city of gold, big people, secure people, and nice people. According to Abu Sabah, everyone in Dubai wants to showcase their status and affluence, making these unique license plates highly sought after by the elite.
During an interview, Abu Sabah shared an anecdote about his first visit to the luxury hotel Burj Al Arab in 2006. He was denied entry because his car's license plate had too many numbers. The hotel staff informed him that he would need a two-digit license plate or a reservation to gain entry. Abu Sabah always dreamed of owning a single-digit number plate, and when he had the opportunity to purchase D 5, he went all-in, knowing that the proceeds would go to charity. Being a self-proclaimed numbers guy, he explained that the D 5 plate was an ideal fit for him, as his favorite number is nine. He also pointed out that by adding D (the fourth letter of the alphabet) with five, you get nine.
At the time of reporting, there had been no response from the Guinness World Records to a request for comment.
Unlike some other exclusive license plates, the plate that was sold over the weekend can be transferred to any vehicle registered in the emirate, regardless of whether it's a supercar or not.
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Karnataka Milk Federation enters Delhi-NCR, offers competitive pricing on Nandini products
New Delhi, Nov 21: Karnataka Chief Minister Siddaramaiah on Thursday launched the Karnataka Milk Federation's (KMF) Nandini brand milk products in the Delhi-NCR market, pricing them marginally lower than competitors to gain a foothold in the region.
The cooperative will retail four cow milk variants, curd, and buttermilk from Friday, with competitive pricing that undercuts established players like Mother Dairy and Amul.
Cow milk will be sold at Rs 56 per litre, full Cream Milk at Rs 67 per litre, Standardised Milk at Rs 61 per litre, Toned Milk at Rs 55 per litre, and curd at Rs 74 per kg.
"We have surplus milk in the state. KMF along with Mandya Milk Union will market surplus milk of 3-4 lakh litres per day in Delhi-NCR," Siddaramaiah told reporters after launching the products.
The federation currently collects 100 lakh litres of milk daily, with local consumption at 60 lakh litres, leaving a surplus of 40 lakh litres for expansion into new markets.
However, the Chief Minister acknowledged the challenges of transporting milk over 2,500 km, which takes 50-54 hours.
There is a need to find new markets for surplus milk and gradually the KMF should be able to sell 5-6 lakh litres per day in Delhi-NCR, he added.
KMF Chairman LBP Bheemanaik assured that milk quality would be maintained during transit.
The federation has already partnered with 40 dealers in the Delhi-NCR region to facilitate sales, he added.
With a robust infrastructure of 26.76 lakh milk producers, 15,737 dairy cooperative societies, and 15 district milk unions, KMF has a turnover of Rs 25,000 crore and exports dairy products to over 25 countries.
State Animal Husbandry Minister K Venkatesh and Agriculture Minister N Cheluvarayaswamy were present at the product launch.
ದೇಶದ ಹಾಲು ಉತ್ಪಾದನೆಯಲ್ಲಿ ಗುಜರಾತ್ ಮೊದಲ ಸ್ಥಾನದಲ್ಲಿದ್ದರೆ, ಕರ್ನಾಟಕ ಎರಡನೇ ಸ್ಥಾನದಲ್ಲಿದೆ.
— Siddaramaiah (@siddaramaiah) November 21, 2024
ದೆಹಲಿ ನಗರದಲ್ಲಿ ಕೆ.ಎಂ.ಎಫ್ ಮತ್ತು ಮಂಡ್ಯ ಹಾಲು ಒಕ್ಕೂಟಗಳು ಸೇರಿಕೊಂಡು ವಿವಿಧ ಶ್ರೇಣಿಯ ಹಾಲನ್ನು ಮಾರುಕಟ್ಟೆಗೆ ಬಿಡುಗಡೆ ಮಾಡಿವೆ. ದೆಹಲಿಯ ನಿವಾಸಿಗಳಿಂದ ನಂದಿನಿ ಉತ್ಪನ್ನಗಳಿಗೆ ಅತ್ಯುತ್ತಮ ಸ್ಪಂದನೆ ದೊರೆಯಲಿದೆ ಎಂಬ ವಿಶ್ವಾಸ ನನಗಿದೆ.… pic.twitter.com/yUmTQknGzD
