Friday 14 August 2020

Bahrain’s unique vehicle numbers auction yields $1.5m

MANAMA, December 2, 2019

Mazad, a subsidiary of Bahrain Mumtalakat Holding Company and Arabian Auctions, said that its fourth public auction of unique vehicle license plate numbers that was held in Manama generated revenues totalling BD564,000 ($1.48 million).

The auction witnessed intense competition amongst bidders, creating heightened interest amongst attendees and followers.

Of the 25 unique license plate numbers, the highest bid was received for plate number 655555which was sold for BD76,000. Bidders from across the GCC region gathered to participate in this event and vehicle plate number 644444 came in second place, having been sold for BD67,000 followed by plate number 650000 with a value of BD65,000. All numbers were handed over to their respective owners at the end of the event.

Talal Aref Aloraifi, CEO of Mazad said: “I would like to congratulate the successful bidders on their acquisitions, and would like to thank Arabian Auctions for all their efforts and close cooperation with Mazad towards upgrading the auctions market in Bahrain through their expertise and in depth knowledge, which has enhanced the popularity of auctions and the substantial growth in returns. The procedures followed were implemented in accordance with the best international standards.”

Abdullah Matar Almannai, chairman of Arabian Auctions, said: “The success was a result of cooperation between the two companies and their strategic partnership and is in line with the plan followed to enhance the cooperation with companies and organisations operating within this sector in the region.

“The auction sector in Bahrain is progressing and developing with a growing interest from the public audience participating in the organised auctions, which was clear In the fourth public auction that achieved great success on all levels, starting with participation levels, sales and clients satisfaction.”

The event closed with a special raffle draw on plate numbers 640065 and 655564 for all auction participants. – TradeArabia News Service


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