Presented by ThePlateBroker.com.
Michael Modecky, founder of ThePlateBroker.com, discusses the license plate aftermarket, the growing opportunities for plate sales in the United States, and how California plate “MM” needs international branding catalyst Mercedes Maybach.
Towards the end of May 2022, Mercedes-Benz issued a press release outlining their long-term ambition to outline the world’s most valuable luxury car brand, emphasizing their intention to surprise people with the Maybach Mark.
“The Mercedes Maybach brand identity is one of the most recognized uses of the letter ‘MM’ in the world, so they are definitely on my radar as a potential buyer,” said Michael Modeke, whose company ThePlateBroker.com over-listed. Rare California license plate ‘MM’ for 24.3 million. “(License plate) A lot has been said: glorious, ridiculous, insane, dazzling, extraordinary. People all over the world are talking about it and waiting to see who achieves it. At the moment, it seems to fit the ambitions of Ola Calenius and Daniel Lesko, “referring to the CEO of Mercedes-Benz and the head of Maybach, respectively.
License plate aftermarket is a big business in many rich countries, which appeals to the same population, hoping to attract and retain Mercedes Maybach. “The plate is a symbol of international recognition and scarcity. They are one-of-a-kind by design and function, so they are a symbol of monopoly, ”Modeki continued. “In comparison, look at the history of domain name values. Dot com has evolved into a lucrative asset, and companies are paying millions of dollars for short, easily identifiable. We see the same thing with usernames on Insta (gram), Twitter, and TikTok. A marketing And from a visibility standpoint, I think owning the world’s most valuable license plate will benefit a luxury automobile brand whose goal is to shock and amaze. “
When asked about the asking price, Modeki had to say, “The current world record was set in 2008 at .3 14.3 million. When you adjust to inflation, it’s just a shame the 20 million today. The asking price leaves no room for doubt that a new world record will be set if the plate is sold. “
The idea of a high-priced license plate may seem ridiculous to some, but the niche market appeals to the right people. The price of license plates has risen steadily over the past decade, making them an unconventional investment opportunity. Modeki has added an NFT aspect to its plate offering. “Finally, the value is in the plate and it is the ability to register in a car. NFT means the history of ownership is forever recorded in the blockchain. There are verifiable origin values. Personally, I think Maybach will be able to sell plates in the future for a profit. Officially owned by the world’s most valuable luxury car brand? There are people who will buy it right away. “
For now, it all makes sense in theory. Despite MM (Cash, Cinema, and Compose, to name a few) being listed for sale with some fantastic Plate offers, ThePlateBroker has yet to complete a high-profile transaction. “I’m not worried,” Modeki said enthusiastically. “It will happen.” His confidence is justified. License plate sales in other countries continue to be headlines around the world. It’s almost amazing that it didn’t catch on in a market like California. Perhaps Mercedes-Maybach will surprise us all and become the tipping point that ThePlateBroker is looking for.
Image courtesy of ThePlateBroker.com and PalominoMotors.com