Sunday, May 13, 2007

Another world record...

...this time it's not Dubai though, it's Abu Dhabi.

A world record price paid for a vehicle number plate. Dh25.2 million.

That's US$6,850,000.

It was the price paid for the number '5' by Abu Dhabi-based businessman Talal Al Khoury, who beat off two rival bidders.

Mr Al Khoury bought two more numbers - number 55 for Dh6.5 million and number 45 for Dh5 million. So for three number plates he paid a total of Dh36.7 million, or US$9.98 million.

On the surface this is consumerism gone mad - but it isn't at all.

The auction was held to raise money for people with special needs and accident victims. Dh100 million was raised (US$27.2 million).

Mr Al Khoury is quoted as saying: "All the money I have does not belong to me, it is given to me by God for a reason. I am giving back this money to those who need it." He added: "The number does not mean anything to me. I will keep it and after my death it will be re-auctioned and probably raise more money that will again be given to charity and humanitarian work."

Gulf News report.

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