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All you need to know about world's most expensive license plate, sold for 55 million dirhams

Proceeds will go to the initiative 'One Billion Meals'

A Dubai-based auction house, Emirates Auction, sold a license plate for a whopping $15 million (55 million dirhams), making it the most expensive license plate in the world. The plate has just two characters—P7.

Emirates Auction recently announced that “the most expensive [license plate] number in the world” was sold at a charity auction that took place on April 8.

“The most noble numbers charity auction has once again demonstrated the remarkable generosity of the UAE community in supporting charitable causes,” a statement from Emirates Auction executive director Omar Matar Almannaei read.

Although the auction house has claimed that the purchase set a new Guinness World Record, the forum is yet to confirm this.

The previous record for the most expensive license plate was held by Saeed Abdul Ghaffar Khouri. He had purchased the plate, with just the number '1' for $14.2 million (52.2 million dirhams).

The proceeds from the auction will go to 'One Billion Meals', which seeks to come up with sustainable solutions to fight hunger launched by Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum. The auction reportedly raised more than $19.3 million (71 million dirhams) for the campaign.

"The most noble charitable number auction organized by Emirates Auctions sets a new world record and enters the Guinness Book of Records, by selling the plate number p7, for 55 million dirhams, thus becoming the most expensive number in the world, the proceeds of which will be fully returned to support the efforts of the "Stop a Billion Meals" campaign," a tweet from the auction house, translated from Arabic, read.