Arab businessman pays record £7million for '1' private number plate 'to be the best'

The value of private number plates climbed to new heights today when a wealthy Arab bought the registration "1" - for a record £7milion.

"I bought it because it's the best number," said Saeed Khouri, a member of a prominent Abu Dhabi family that made its fortune in property.

"I bought it because I want to be the best in the world."

Khouri refused to reveal how many cars he owned and which one of them will carry the record-breaking single digit plate.

Scroll down for more...

The reg is one of a series of unique number plates which the United Arab Emirates state auctioneers in this oil-rich Gulf country began auctioning off since last May.

But unlike ordinary car plates issued to drivers here and most other vanity series plates which carry both Arabic and Western numerals and script, defining the issuing city and country, Khouri's plate had only the Western numeral and no letters.

The record sale surpassed that of its predecessor, an Emirati license plate that had just "5" on it - also no Arabic numerals or letters - and which is owned by Emirati stock broker Talal Khouri, according to officials at the Emirates' state-run auction house.

After Talal Khouri, who is no relation to Saeed, plopped down £3.4million for it at an earlier auction, the plate adorned his prized Rolls-Royce.

Scroll down for more...

Proceeds from the vanity plate auctions, held in a lavish hotel in the Emirates' capital, go to a rehabilitation center for victims of traffic accidents.

Today, 90 license plates were auctioned off in all, raising a total of US$24 million (¤16.3 million). The previous five such events raised more than £25million.

Last month Businessman Afzal Kahn's delight was in overdrive yesterday after he bought F1 - Britain's most expensive registration.

The 37-year-old custom car tycoon got the plate for £440,625 - £375,000 plus VAT - and other charges took the total to around half a million pounds.

Scroll down for more ...