$14.3 Million For Abu Dhabi Car Number Plate "1"

Today, a man named Said Abdul Ghafour Khouri has agreed to pay AED 52.2 Million (US $14.3 Million) for Abu Dhabi license plate labeled "1" at an auction at the 7-star Emirates Palace Hotel here, making it the world's most expensive license plate .

The previous record was held by Abu Dhabi plate number 5 , bought at auction for $6.8 million by stock broker Talal Khouri last year.

"From 1 to 10, these are the most expensive numbers," said Abdulla al Mannaie, managing director of Emirates Auctions . "Ten to 99 are the second category. On the other side, you look to numbers which is like 11, 22, 23 they are expensive because it carry [repeating digits].

Al Mannaie said vanity plates are good business -- an investment with more than a 20 percent annual return. Meanwhile, they're a status symbol on wheels.