License Plates Cost More Than Cars in Shanghai

In Shanghai, the largest city in China, you can expect to pay more for a vanity “number” license plate than one of China’s “hottest-selling subcompact cars,” the Chery QQ (pictured).

“Over the weekend, about 9,000 people bid for 6,000 car plate numbers, which were snapped up at an average price of 47,711 yuan [USD $6,262.68],” according to a Reuters article. Compare that to the QQ, which sells for only 39,800 yuan, or USD $5,224. Someone’s getting a raw deal.

Why are these number plates so coveted in China?