The rare Victorian plate valued 20 times what your car is worth

It’s the perfect purchase for the cashed-up Baby Boomer turning 60 this year. A rare Victorian plate will be auctioned in Melbourne this month and the price tag is expected to be massive.

The rare Victorian '59' plate to be auctioned by Shannons in Melbourne in April.

It could be the perfect purchase for the cashed-up Baby Boomer turning 60 this year.

A rare Victorian plate ‘59’ will be auctioned in Melbourne this month and is expected to attract bids of up to $650,000 — about 20 times the price of an average new car.

The black-and-white enamel treasure is one of just 90 double-digit Victorian plates ever issued and dates back to the 1930s. The last two-numeral plate that was put up for auction, No. 21, sold for $530,000 in 2016.

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Shannons auctions spokesman Christophe Boribon said old original plates rarely came on the public market but some were traded privately.

The plates had escalated in value because they were unique, were passed down to family members and were a cost-free investment.

“Unlike other investments, you don’t have to pay for things like rates or maintenance,’’ Mr Boribon said.

The Victorian number plate ‘21’ sold for $530,000.

“For someone born in 1959 and turning 60 this year, and with the spare money, what a fantastic plate for their birthday.’’

The ‘59’ plate might also appeal to golfers for whom a sub-60 score is a holy grail, even for pros, and to members of the worldwide 59 Motorcycle Club, founded in London in 1959 — shame the plate’s for a car.

The plate will be auctioned by Shannons in Melbourne on April 29.

VicRoads custom plates manager Brendon Wilson said heritage number plates were always a popular collectable and most are still in use.

“All single-digit heritage plates are currently assigned to registered vehicles as are the majority of double-digit plates,’’ Mr Wilson.

The first issue numbers weren’t plates at all. The first numerals were issued from 1909 to owners who put their own number, possibly painted, on their car. Other owners made their own version of their plate.

The metal plates coated with gloss enamel paint were issued from 1932 when the first official Victorian number plate was issued.

In 1984, the Victorian number 1 plate sold at public auction for $165,000.

The NSW number ‘29’ number plate fetched $745,000 at auction in Sydney in 2017.

But the record for a heritage plate is still held by Chinese-Australian billionaire Peter Tseng who bought the original NSW number ‘4’ for $2.45 million in 2017.

LAST five double-digit sales in Victoria:

No. 21 — $530,000 in 2016

No. 83 — $210,000 in 2014

No. 98 — $150,000 in 2014

No. 97 — $180,000 in 2010

No 47 — $322,000 in 2007

National record:

NSW No 4 — $2.45m in 2017

Source: Shannons

@IanRoyall