How do the DVLA’s private number plate auctions work?
The DVLA’s biggest ever auction starts today, with 2,750 previously unregistered number plates up for grabs. But what exactly are the DVLA number plate auctions and how do they work? We answer some of the most common questions here.
How do the DVLA auctions work?
There are two types of DVLA Auction: Timed Auctions and Live Auctions. Both types of auctions are used to sell previously unissued number plates and they are often highly sought after.
- Timed Auction - The Timed Auctions are conducted online and have no physical live presence. Potential bidders can register on the DVLA Timed Auction website and make their maximum bids against registrations available in the lot that is being sold.
- Live Auction - The Live Auctions happen in a physical location that can be attended by potential bidders. The location varies from auction to auction, and the auction calendar details venue locations for upcoming auctions. Live Auctions operate in the same way as traditional auctions.
How do I see the lots being sold?
The private number plates being sold in a Timed Auction can be browsed here and for a Live Auction the private number plates available in the auction can be browsed here.
How do I bid in a DVLA auction?
For a Timed Auction it is a simple as registering on the Timed Auction website and then browsing the available registrations. See something you like? You will be able to see the Current Bid together with the number of bidders interested in the registration. Submit a bid above the Current Bid to be in with a chance of winning the Auction. However, be aware that once a bid has been placed it cannot be removed.
Once the Timed Auction starts, the bids for all registration increase in increments of £10 until the maximum bids of all interested bidders (except for the higher maximum bidder), have been outbid, leaving only the highest bidder in the auction. Bidders that have been outbid will be sent an email inviting them to increase their maximum bid before the auction’s End Time.
For a Live Auction bidders are encouraged to attend the Live Auction and bid in person, in the same way as a traditional auction. However, it is also possible to submit bids online or by telephone and the DVLA provides tutorials on how to do this.
What are the costs involved?
On top of the winning bid there are a number of charges to be aware of:
- VAT - this is added to all winning bids at the current standard VAT rate of 20%.
- Buyers Premium - this is 8% of the winning bid but it is subject to a minimum of £40. This charge is also subject to VAT at the current standard rate of 20%.
- Assignment Fee - this is a fixed fee of £80 to assign the registration to a V750 Certificate of Entitlement for the winning bidder. There is no further charge to later assign the registration to a vehicle in the name of the purchaser or a nominee.
Are the winning bids published?
The winning bids of all lots are published at the end of the auction. Any registrations that do not meet the Reserve Price may be included in a future auction.
When are the next DVLA auctions?
All future scheduled DVLA auctions can be found here.