Monday 10 August 2020

Mazad set to auction unique licence plate numbers

MANAMA, November 18, 2019

Mazad, a subsidiary of Bahrain Mumtalakat Holding Company, and Arabian Auctions, the Bahrain subsidiary of Emirates Auctions, will hold their fourth public auction featuring a new set of unique vehicle license plate numbers on November 30.

The auction will take place at 6pm at the Four Seasons Hotel, Bahrain Bay.

“All participants are welcome with ownership of the unique vehicle license plate numbers accessible to anyone,” explained Talal Al Araifi, chief executive officer of Mazad.  “In fact, there are no limits on the number of unique vehicle license plate numbers that participants can bid on.”

Auction rules however are stringent and compulsory for all participants. Individuals that win the auction should deposit the payment of the full amount within ten days from the closing date of the auction, after which respective ownership certificate are issued.

Furthermore, participants are required to deposit an open insurance cheque upon registration, which will be returned immediately to its owner upon conclusion of the auction in the event that none of their respective bids are successful.

Participants bidding on behalf of other individuals must submit a legal power of attorney (proxy) that allows them to register and submit offers on behalf of their client. It should also be noted that individuals who are interested in participating in auctions starting at a minimum amount of BD500 or less are required to pay a refundable amount of BD1000 by cheque or credit card.

The list of available unique numbers can be viewed on Mazad’s social media account @mazadbahrain or Arabian Auction’s account @arabianauction as well as the website – TradeArabia News Service


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