The online auction, set to start in April, follows record-breaking bids in previous sessions.

On the morning of March 6, a representative from the Traffic Police Department confirmed that the ministry had officially approved the auction plan.

A total of 2,181,366 car and motorcycle plates from 63 provinces and cities will be available, making this the largest auction of its kind.

Notably, the auction will feature highly desirable number plates, including quintuple sequences such as 55555, 66666, 77777, 88888, and 99999, as well as 567.89, which is popular for its sequential pattern.

Starting bids and auction process

For cars, the starting price is set at 40 million VND ($1,600), while for motorcycles, it begins at 5 million VND ($200).

Premium plates with specific patterns, such as AAAAA (A > 4) or ABCDE (A < B < C < D < E, A > 4), will be re-auctioned at 500 million VND ($20,000) for cars and 50 million VND ($2,000) for motorcycles after two unsuccessful auction attempts.

The auction will be conducted online using an ascending bid format. It will take place 30 days after the official listing of available plates, starting from March 5. The Vietnam Partnership Auction Company has been selected to manage the process.

Previous auctions and record-breaking bids

Prior to this, the Ministry of Public Security had conducted 272 auction sessions, listing over 2 million vehicle plates. Among them, 51,218 plates were successfully sold, generating nearly 5 trillion VND ($200 million) in revenue.

Of this amount, winning bidders have already deposited approximately 4.5 trillion VND ($180 million) into the state treasury.

Several plates from past auctions have set record prices, including:

51K-888.88 – Sold for 15.265 billion VND ($610,000)

30K-555.55 – Sold for 14.495 billion VND ($580,000)

11A-111.11 – Sold for 8.78 billion VND ($350,000)

72A-777.77 – Sold for 6.85 billion VND ($275,000)

Upcoming legal framework for license plate auctions

On June 27, 2023, Vietnam’s National Assembly approved the Road Traffic Safety Law, which will take effect on January 1, 2025. The law includes new regulations on license plate auctions, aiming to:

Maximize the efficient use of public assets, such as vehicle plates

Increase state revenue

Improve infrastructure for vehicle registration

Streamline administrative procedures for the public

Ensure transparency and fairness in the plate issuance process

Dinh Hieu