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May 06, 2008 by: bradiger

United Arab Emirates License Plate Auction Nets $10 Million Dollars

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Been wondering where all your cash is going as it's siphoned out of your pocket at the gas pump? Wonder no more! On Friday, Dubai's Roads and Transit authority organized an auction for low-numbered license plates - apparently a sought-after commodity among those who've simply run out of room for their piles of cash.

The auction, in which 57 plates were sold, netted 9.8 million dollars, with top billing going to the plate "50G" at a paltry $926,000. Yahoo reports that at a similar auction held back in February, an individual won the Abu Dhabi plate "1" for approximently 14.2 million dollars. Reports of said individual wiping his ass with $100 bills remain unconfirmed.

President Bush is said to have been on hand to declare this event as another victory against terrorism.

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