A man from humble beginnings has shared the secret of his wealth, telling the story of how he was able to kickstart his career as a multi-millionaire after buying a single number plate.
Rod Shields, 60, purchased the number plate, 4VBF, back in the 1980s for only £120 and chose to resell it for £3,000 as part of a side hustle.
Using this cash, he was able to put down a 25 percent deposit on a three-bedroom home in Wolverhampton and went on to launch his career as a property mogul.
Outside his main job, Mr. Shields still runs a side hustle selling custom number plates for business clients, harking back to his roots.
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According to the businessman, his best-selling car number plate, BE57APP, sold for around £3,000.
The entrepreneur explained: “I own a multi-million-pound property portfolio now and it’s all bought on that one plate.
“I always put it down to that one plate purchase – it gave me the push to do it. I always knew there were opportunities out there, don’t listen to the naysayers.
“I’ve always read the Sunday Times as it had cars and houses in – my two loves. And it was there I discovered number plates. I didn’t know how much I could sell it for, I just thought ‘let me just try it.’
“I just knew it would be worth something because it had one number and three letters – I just guessed the price and put it up for £4,000 and someone offered just over £3,000.”
It cost Mr Shields only £60, the equivalent of two weeks’ worth of wages, to advertise in The Sunday Times at the time.
Despite the risk, a potential buyer got in touch on that Sunday night and came to check the number plate out.
He was successful in kickstarting this side hustle, as well as his eventual career while he was still a teenager. Mr Shields was able to buy the property at 18, and he spent a year renovating it before eventually renting it out.
Mr Shields added: “One day I was listening to Last Christmas by George Michael, and I Googled how much he earns from that song – which was around £250k a year in royalties.
“I wondered if there were any George-related plates, and it turned out there were. I bought UG03RGE – first released in 2003 – the year he died for around £400 and sold it for just under £3k.”
His inspired buying choices helped him continue making money off of rare personalised plates which people remain desperate to get their hands on. Those interested in seeing what other number plates Mr Shields has on sale can visit his website https://ubrplates.co.uk/.