City to Auction Off Special License Plates Every Month

City to Auction Off Special License Plates Every MonthCity traffic police is planning to issue around 500 license plates that have distinctive numbers by auctions at least once a month. The first auction for these special license plates will be for five days and will happen by the middle of January. Traffic police stated that the auction will be done online and the rules, regulations, procedure and the website will be announced ten days before the auction starts.

Bidding will start with four of the same numbers, for example license plates with the numbers 555 will have a starting bid of 30,000 yuan then increase by 10,000 yuan in each round of bidding. License plates with three of the same number such as 333 or have two pairs such as 8833 will have a starting auction price of 10,000 yuan then increase by 5,000 yuan in every round. License plate with twin numbers such as 22 will start at 5,000 yuan and buds increase by 1,000 yuan in every round after. Money generated from the auction will be used in funding road projects and social relief after accidents in traffic.

Those interested in purchasing license plates can register at the Shenzhen Auction Resources Center and will need to pay a 10,000 yuan deposit, then they can apply for the license plate after procedure are released. The auctions were designed to make full use of vehicle resources in a way that differ from the plate restriction that some cities have implemented.

The city issues around 30,000 license plates every month and is planning to auction off 500 plates each month and they say  it will not be affecting vehicle businesses in the city.

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