ABU DHABI // The car number plate craze is taking off online, with bidders in the capital's second internet auction offering thousands of dirhams in a week-long bidding war for what at first glance appear to be some rather ordinary numbers.
By yesterday morning, the number 702 had attracted 14 bids and an offer of Dh320,000 (US$87,160), while 694 received 12 bids and an offer of Dh280,000. With more than two days of bidding left to go, the number plates seem certain to earn even more money.
If that's too rich for you, a five-digit plate might be more to your taste: the number 12999 has so far fetched a mere Dh5,000 (US$1,362).
All these, of course, pale in comparison with the record Dh52.2 million (US$14.2m) earned in February by the magic number one at an auction in the Emirates Palace hotel. Nevertheless, the bids for some of the more "ordinary" numbers are surprising even to the head of the company that runs the online auction.
"It's a surprise, but people have links with these numbers," said Abdullah al Mannaei, the managing director of Emirates Auction.
But not a complete surprise: the choice of numbers, he said, was based on requests made on the website by potential bidders.
"When we see a number requested by more than three people, we have a special strategy which guarantees when we add a number to the online auction we get the best result," he said.
Combinations of numbers that matched bidders' mobile telephone numbers were common, said Mr Mannaei. Others, like the request for plate number 1164 - Dh6,500 (US$1,770) so far - matched bidders' driving licences.
Mr Mannaei said he believed part of the popularity of the online auction was the freedom it gave bidders to place bids over the week, rather than sit through hours of bidding at the Emirates Palace.
The bio
Favourite food: Japanese
Favourite car: Lamborghini
Favourite hobby: Football
Favourite quote: If your dreams don’t scare you, they are not big enough
Favourite country: UAE
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There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
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- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
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Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
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