For many motorists, personalised numberplates are an opportunity to stamp some extra flair on a new machine. However, for one F1 superfan, they are a golden investment opportunity worth tens of millions of pounds.
Businessman and Formula One fan Afzal Khan purchased the ‘F1’ numberplate from Essex County Council in 2008 and was previously assigned to a Volvo S80. After acquiring the plate, the new owner quickly slapped it on a Mercedes SLR McLaren and then a Bugatti Veyron.
Khan’s initial investment in the plate came at a cost of £440,625, making it the most expensive in UK history. That record stands today, 17 years after the initial sale. However, the value of the registration has ballooned, and yet its owner will not sell.
In 2013, Khan turned down an offer of £6million for the plate, insisting that he had no plans to part ways with his investment. “We have received a significant multi-million-pound offer for the F1 plate, which we rejected out of hand,” his company explained.
“Mr Kahn has no interest in selling F1, which is his favourite plate. Cherished number plates, unlike property or other investments, tend not to fluctuate in value, they only go up. It really shouldn’t be a shock to people that the number plate is worth millions of pounds.”
Khan received another astronomical offer in 2018 but once again declined. The motorsport fan was offered £10m for his plate, which would have provided him a profit of nearly 21 times his initial investment.
Explaining his collection on Instagram, Khan revealed: “I have more than sixty unique registration numbers from 1 NVV and 4 AK to NO 4 and K4 AHN.
“For the recent royal wedding, I put 4HRH on a four-wheel drive Mercedes and within days I had an offer of £1 million for it. Every registration number tells its own story which generates interest in its history – and whoever is behind the wheel.”
As of 2024, the F1 registration remains in Khan’s possession, and the clever entrepreneur shows no signs of bowing to the lucrative offers he has received. “F1 is an outstanding registration,” explained Angela Banhsaid of Regtransfers.co.uk.
“Ever since Mr Kahn bought the plate from Essex County Council in 2008 we have been watching with interest to see whether he decides to keep it for himself.
“Number one registrations are always highly sought after and command good prices, but F1 is a special case. Not only does it have obvious appeal to anyone concerned with Formula One motor racing but also anyone who wants to make an impression behind the wheel.”
