Free Instant Number Plate Valuations: Too Good To Be True?
So you want to find out how much your number plate is worth, and you want to know quickly and for free.
Well you're not alone. Every month, thousands of people search on Google for terms like 'free instant number plate valuations'.
The trouble is though, most of the results at the top of Google are companies offering free computer generated valuations, and you can't blame them, after all, who'd want to give up their time and expertise on demand, for free (ever heard the saying 'there's no such thing as a free lunch')?
Computer generated free valuations
Computer generated free valuations may help to give you a ballpark figure, but the problem with these (as these sites openly state) is that 'the estimates are computer-generated and can't spot names or special significance like humans do'.
That means that they can't tell that P3 TER is a perfect plate for Peter and could be worth a lot of money, they just calculate a value using a formula based on things like the number of characters in the plate, which would hugely under-value this plate.
Some dealers will offer to value your plate over the telephone. They use a premium rate number (charging around £1.00 per minute) as a way to help fund this so that they're not taking calls all day for free, and again you can't blame them.
The main way that they fund these valuations though, is by getting your agreement to sell the plate through them on a commission basis.
This is where the problem with dealer valuations lies. The valuation that they give to you will be the figure that they expect to return to you when the plate sells, not the figure that they intend to sell it for - which is the true value of the plate.
The amount that they'll sell it for will often be around 30% more than the amount that you'll get returned to you, as they act as the middlemen between number plate buyers and sellers (very much like estate agents do with properties).
So how can you get an honest number plate valuation?
There are really two options...
You can research and do it yourself, or you can get an independent valuation from someone who has no hidden agenda.
Whilst you're probably not a number plate expert, with a bit of homework you should be able to value your number plate fairly accurately.
We've already covered how to do this in our guide to finding out how much your private plate is worth, so rather than duplicating it, we'd suggest you have a read of that.
As we've already covered above, most of the free valuations you can get online will be carried out be someone who has an ulterior motive.
They want to sell your number plate on a commission basis, and the valuation they provide reflects that.
So who can you approach for a valuation who doesn't have a hidden agenda?
You could ask around. There are some number plate groups dedicated to private number plates on Facebook that you could join and ask the members of those for their opinion. Here are some groups we found after a quick search...
Private/Cherished Number Plates Facebook Group
Private Number Plates Facebook Group
You'll have to request to join these groups and the group admin will have to approve your request before you can see any content or post anything.
We would always take the values you get here with a pinch of salt though. The opinions are probably not those of experts.
Lastly, without sounding too self promotional, we do offer honest and impartial number plate valuations. They're all manually, individually researched by people with years of experience in the number plate market.
And you can be sure that they're 100% impartial because we're a classifieds site -our business model is to allow buyers and sellers to deal directly.
We don't act as a middleman and we don't want to sell your plate on a commission basis, so the valuations we give are 100% honest.
We charge a small fee of £9.99 for this service. However, if you are thinking of selling your number plate then you're probably better to place a Premium Advert with us as this includes a valuation for free and costs just £9.95 a month.
Self promotion over, we hope this guide has given you an insight into the world of number plate valuations. If it's helped you in any way, please let us know, we love hearing from our readers 🙂
May 07, 2015
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