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Businessman pays a record £375,000 for F1 number plate
Last updated at 23:37pm on 26.01.08It's eye-catching, well-designed and worth £500,000.
No, not the car ... the number plate. Businessman Afzal Kahn's delight was in overdrive yesterday after he bought F1 - Britain's most expensive registration.
The 37-year-old custom car tycoon got the plate for £440,625 - £375,000 plus VAT - and other charges took the total to around half a million pounds.
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Proud new owner: Afzal Kahn with his record-breakingly expensive number plate
It beat the previous record of £331,000 for M1, sold by auctioneers Bonhams in July 2006.
Mr Kahn has put F1 on his new Mercedes-Benz McLaren SLR, which cost £200,000 less than the number.
The entrepreneur from Bradford, a keen Formula One fan, beat off two other potential buyers to snap up the plate from Essex County Council.
The 104-year-old registration was previously on a £30,000 Volvo S80 used by the council chairman.
The council sold it to raise money for a charity which aims to raise the standards of young drivers.
"I knew I just had to have it," said Mr Kahn. "I have spent years chasing it. I cannot believe I've finally got it.
"I am privileged to have acquired such a prestigious plate. It's every man's dream to have his perfect car with a number plate like this."
The sought-after registration attracted the attention of Formula One's Eddie Irvine and Bernie Ecclestone when it went up for auction at the Goodwood Festival of Speed in April 2005.
But it remained unsold because the reserve price was not met.
Mr Kahn started his business career as a 14-year-old helping out his father on an ice cream van.
His first enterprise was selling eggs door-to-door at 16 before indulging in his hobby of making car accessory parts.
His family owned a small leisure and arcade facility, where he advertised his bespoke parts - which turned into the business venture he owns today.
His company, Kahn Design, now buys new top-of-the-range cars and strips them out before redesigning them ready to be sold.
Reader views (5)
Here's a sample of the latest views published.
If you work hard you will reap the rewards.
Well done Mr Khan!
- Tangomike, Kensington, London
How sad. Does this gentleman not have a life?
- Marianne, SW France
As an Essex CC Council Tax payer, does this additional revenue mean that there will be no increase in the Essex CC part of my council tax from April? I look forward to my bill!
- Tom, Wickford, Essex
A senseless show-off!
Enough money to feed hundreds of starving families and meet basic-education needs of as many children of poorer countries, for several years!
- Nadeem Asghar, London, UK.
Nice car and nice plate number. I am jealous.
- P.Robinson, Northants
