The world’s most expensive license plate just sold for $15 million in Dubai

• A license plate believed the world’s most expensive just sold for $15 million.
• The “P 7” plate was sold at a charity auction in Dubai on Saturday.
• The previous top spot was taken by the plate “1,” which was auctioned off for $14.2 million in 2008.

A license plate believed to be the world’s most expensive sold for 55 million UAE dirhams ($15 million) in an auction at the weekend.

The plate simply features one letter and one digit: “P 7.”

Emirates Auction, which auctioned off the license plate in Dubai on Saturday, said that it was a new record. The company said that the proceeds would go to a food aid charity led by Sheikh Mohammed bin Rashid, the Dubai ruler.

The auction house told Insider that the plate’s buyer wished to remain anonymous.

The most expensive license plate sold prior to the weekend’s auction was the single digit “1,” according to the Guinness World Records. It was bought for 52.2 million dirhams (around $14.2 million) by Saeed Abdul Ghaffar Khouri from the United Arab Emirates in 2008, also during an auction organized by Emirates Auction. This is still listed as the record holder on the Guinness World Records website.

In Hong Kong, a license plate with just the letter “R” sold for 25.5 million Hong Kong dollars, or around $3.2 million, in February.

Dubai-based businessman, Balvinder Singh Sahni, told Bloomberg that he had bought the license plate “D 5” for 33 million dirhams in 2016. “Dubai is a city of gold,” he told the outlet. “It’s a city of big people … Everybody wants to show their status.”

“It was always my dream to have a single-digit number,” he added.