FERRARI Attracts the Highest Bid at Texas License Plate Auction

License plate auctions can be fun and throw up some unexpected results. At a Texas license plate auction one expected COWBOYS to be the winner but the plate bearing the word FERRARI with a $15,000 bid. The license plate auction was held at Cowboys Stadium on January 13 by My Plates and a total of 33 plates were auctioned during the event. Plates with COWBOYS and GO HORNS, as expected attracted bids in excess of $10,000.

The proceeds of the auction will be shared by the company My Plates and the state of Texas. It is the first time in Texas that citizens can get personalized plates with a full seven letters of their choice. PORSCHE and MUSTANG also went for $7,000 and above. Other choices which saw some aggressive bidding was BEST MOM and COOL DAD but finally went for under $5,000.

The Texans who bought the plates at the auction will get the rights to the plates for 25 years after which they will have an option to renew. The right can be resold also. My Plates sells new specialty license plates in the state of Texas and have announced that 7-character personalized plates will be available for 7 days from March 7th from 7 am. In the past one year, over 30,000 plates have been sold by My Plates, generating over $2.6 million for the state general revenue fund.

Via: washingtonpost

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