Mohali market slump ensures fall in craze for fancy vehicle numbers
Vanity numbers are losing craze with residents, who are otherwise known for flaunting VIP numbers of their vehicles. The diminishing trend is evident from the fact that for the past three series and the most sought after 0001 registration number sold through e-auction by the district transport office, SAS Nagar, failed to find takers.Updated: Oct 28, 2015 15:45 IST
Vanity numbers are losing craze with residents, who are otherwise known for flaunting VIP numbers of their vehicles. The diminishing trend is evident from the fact that for the past three series and the most sought after 0001 registration number sold through e-auction by the district transport office, SAS Nagar, failed to find takers.
The DTO office, which had recently introduced the system of e-auction for vanity numbers, has failed to sell 001 for the last three series-AA, AC and AE for which the reserve price is Rs 5 lakh. The situation is such that the state government, considering the falling interest of residents in vanity numbers, was forced to lower the reserve prices, but that too has failed to boost the sale.
“The high reserve price of the vanity numbers is one of the reasons for people not opting for the vanity numbers. In Punjab, only a car’s make does not matter, but its VIP registration number is a style quotient too. However, high reserve price is a deterrent,” said Mohinder Singh, an agriculturist and a SAS Nagar resident.
“The slump in the real estate market is a major reason. The trend of spending money to buy VIP numbers had picked up in 2012-2013 owing to the upbeat real estate market, but with the slump in the market, the bidders are shying away,” said a senior official of the SAS Nagar district transport office. He added that, “The craze for the numbers that are suggested by the pundits as per ‘vastushastra’ or numerology is on the rise.”
0786 failed to sell for past 6 series
Once a most sought-after number, 0786 failed to find takers. Now, the transport department has slashed its reserve price from Rs 2.5 lakh to Rs 50,000. The transport department has not been able to sell 0786 for series Y, Z, AA, AB, AC and AE.
Reserve price slashed
Considering no takers for the vanity numbers, the Punjab transport department has slashed the reserve prices for vanity numbers. The 0002 to 0009 numbers that earlier carried reserve price of Rs 2.5 lakh would now carry reserve price of Rs 50,000. The vanity number 0010 to 0099 carry reserve price of Rs 25,000 as against Rs 1 lakh.
First Published: Oct 28, 2015 15:32 IST