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More car plates available at tomorrow’s auction
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A total of 7,447 license plates will be available at tomorrow’s monthly auction – the first after Shanghai’s transport authority prohibited second-hand plates from being sold privately.
According to the authority, 47 plates were added to the usual quota of 7,400. They came from plate owners who applied to have their plates sold at the auction. Sellers will receive the average price and will not be allowed to buy a plate for three years.
The Shanghai Transport Commission incorporated secondhand plates into the auction to prevent agents and individuals from making profits through reselling car plates. Previously, secondhand plates were selling privately for around 100,000 yuan (US$16,069) while the average auction price is about 74,000 yuan.
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