Explosive Vanity License Plate Business

In the 90’s, a new phenomenon explosion of new business emerged that instantly made some of the most creative minded entrepreneurs millionaires, and that was the domain name registering, buying and re-selling in the after-marketplace.

Today, there’s a new explosion of emerging market in the Middle East, no, not oil, but the buying and re-selling of vanity license plates.

Read the article below and if you have money like that, go to Dubai and participate in this new lucrative emerging market.

Vanity plate sold for $14 million in UAE
Yahoo News
Sat Feb 16, 10:51 PM ET

A license plate with nothing but the number “1” on it went for a record $14 million at a charity auction Saturday.

Saeed Khouri, a member of a wealthy Abu Dhabi family, wouldn’t say how many automobiles he owned or which of them might carry the record-breaking single-digit plate.

“I bought it because it’s the best number,” said Khouri, whose family made its fortune in real estate. “I bought it because I want to be the best in the world.”

The oil-rich UAE began auctioning off vanity license plates last May.

Ordinary automobile license plates issued to drivers here — and even most other vanity series plates — carry both Arabic and Western numerals and script, defining the issuing city and country.

Khouri’s plate, however, has only the Western numeral and no letters.

The record sale surpassed the $6.8 million that was paid for an Emirati license plate at an earlier auction with the Western number 5 on it — also without Arabic numerals or letters.

Proceeds from the auctions, which are held in a lavish hotel here, go to a rehabilitation center for victims of traffic accidents.

On Saturday, 90 license plates were auctioned off in all, raising a total of $24 million. The previous five such events raised more than $50 million.

2008 Outlook: Fasten Your Seatbelts

In an article published on CNNMoney.com details the economic outlook for 2008.

In short, 2008 will not really be a good year, we may also face a recession sometimes in the middle of the year.

And, even though the Fed may cut more interest rate, it may not help much, as it all depends on the expectations and not so much on the actual Fed’s rate cut.

Most people tend to not like uncertainty. And since 2001, the economy has never really recovered. Consumers are still not sure what’s going to happen next.

Iran, North Korea, etc., and now Pakistan, all these still play a big role of uncertainty, and what’s happening elsewhere in the world certainly affects how we feel and spend here in America.

Most Americans have money, but they just don’t want to spend it because of some of these uncertainties, and even though the Fed may cut the rate, the consumer will still not borrow as expected.

Pakistan has 60 nuclear weapons, which no one really knows how secure these can be or some may end up in the hands of those who hate peace and advocate hate and violence.

This Christmas, has not really been like any other past Christmases, consumer spending and expectation were still low. Not because of weather or whatever, but simply because people are just not certain.

And ever since Bernanke took over, I just never had any trust or hope in him. Greenspan was more effective and he still is. When he spoke, everyone listened, and that too plays a role – the faithless and trust-less some have in Bernanke’s leadership.