UAE-based Mazal has launched a digital platform for trading luxury vehicle number plates, targeting Dubai’s high-value market with escrow-protected transactions.
The Dubai market has recorded more than AED1.7 billion ($463 million) in transactions over the past three years. The most expensive plate, P7, surpassed $15 million last year, according to the announcement. The market has traditionally relied on independent brokers and informal channels such as Instagram.
Mazal said its platform holds buyers’ funds in escrow and releases payment to sellers only after ownership of the plate is officially transferred through Dubai’s Roads and Transport Authority. The platform charges a 5% brokerage fee on each transaction.
The company has also partnered with Transguard to support transactions involving large cash payments. Its pricing system groups plates into categories inspired by gold grades, including 18, 21 and 24 carats, along with a top-tier “Perfect” category for the rarest numbers.
Mazal’s chairman, Abdullah Al Meir, said number plates have become a lifestyle marker in Dubai. Recent high-value deals include AA9 at AED38 million, DD6 at AED37 million and D5 at AED33 million.
Source: Jawlah
