Number plates NSW ‘1’ and Queensland ‘Q1’ sell for millions, smashing records

A last-minute flurry of bidding has set a new record for number plate sales in Australia, with the New South Wales plate '1' selling for $11,505,000.

At the same time, Queensland 'Q1' number plate has also broken records for that state, with bidding reaching $5,655,000 million – while also being the highest amount paid for a two-digit plate in the country.

With the 7.5 per cent buyer's premium, the total paid for NSW '1' was $12.4 million, and $6.08 million for Queensland 'Q1'.

The previous record for a publicly sold number plate in Australia was $2.45 million – held by NSW '4' since 2017.

With all of Queensland's heritage number plates wearing the black-on-white Q preceding the number, 'Q1' is considered the most valuable combination in the state.

MORE: South Australia number plate ‘1’ sells for $700,000

Queensland 'Q1' – finished in vitreous enamel – also breaks the record for the most amount of money spent on a two-digit plate, surpassing Victoria '14' which sold in May 2022 for $2.27 million.

The previous record for a two-digit plate was set in 2020 for Victoria '26' at $1.1 million.

NSW '1' has now been confirmed as one of the most valuable number plates in the world, following the auction of Dubai's 'P7' plate in the United Arab Emirates in April 2023 – setting the world record at 55 million Dirhams ($AU22.8 million).

The Dubai 'P7' plate surpassed the Dubai '1' record set in 2008, which sold for 52.2 million Dirhams ($AU21.6 million).

The popularity of heritage number plates in Australia has exploded in recent years, with private investors, superannuation funds, and investment firms understood to be adding valuable plate combinations to their portfolios due to their high growth potential.

It's understood to be the first time NSW '1' has been offered via public auction in more than 110 years, while it's been almost four decades since Queensland 'Q1' has been offered for sale.

NSW '1' was originally issued to the state's Police Commissioner in 1910, but was eventually acquired by businessman and politician Sir Frederick Stewart in the 1930s, who fitted the plate to his Oldsmobile.

While Sir Stewart passed away in 1961, it's believed the plate has remained in the family's possession until today.

Queensland 'Q1' was issued to hotel magnate James McGuide in 1921, and also passed down the plates within the family until it was eventually auctioned off in 1985, purchased by hairdressing business icon Stefan Ackerie for $100,000 ($350,000 in today's money when adjusted for inflation) who has held the plates until today.

In November 2020, South Australia 'GP1' sold at auction for $700,000, while the highest price paid for a Victorian number plate was for '14', which sold at auction in May 2022 for $2.27 million.