Indore (Madhya Pradesh): The enthusiasm for premium vehicle registration numbers in Indore appears to have cooled, with the latest online auction witnessing surprisingly low bids even for the coveted 0001 number.
Despite attracting four bidders, the MP09-EE-0001 registration number was sold for just Rs 1.01 lakh, barely Rs 1,000 above its base price of Rs 1 lakh. The modest increase came as a surprise, particularly because the number had attracted significantly higher bids in the previous two weekly auctions.
In the previous auction, MP09-ED-0001 fetched Rs 2.52 lakh, while MP09-EC-0001 was sold for Rs 2.83 lakh a week earlier. This time, however, competition among bidders failed to push the price beyond a marginal increase over the reserve price.
9999 number also fails to attract premium bids
The popular 9999 registration number also failed to generate much excitement and was sold at its stipulated base price.
Overall, only 55 fancy and VIP registration numbers found buyers in the latest auction, reflecting relatively weak demand for premium numbers.
Record Dhanteras vehicle sales fail to boost demand
The subdued response is particularly noteworthy as Indore witnessed record sales of cars and two-wheelers during Dhanteras. The festive season had raised expectations that increased vehicle purchases would also translate into higher demand for fancy registration numbers.
However, the auction results suggest that while people were keen to purchase new vehicles, they were less willing to spend extra money on premium registration numbers.
