Chinese-Australian Billionaire Spent Nearly $2 Million on Vanity License Plate

Chinese-Australian billionaire Peter Tseng just spent nearly $2 million on a No.4 license plate from the Australian state of New South Wales, reports Business Insider.

A post shared by Scott Thomson (@scotty427thomson) on May 3, 2017 at 3:39am PDT

This purchase set a new record for the most spent on a number plate in Australia, according to a local newspaper, Domain.

#NSW #4 Just sold at auction @ AU$2.45m….? . . . #heritageplates #nswheritageplates #numberplates #record #millionaire #auction #australia #newsouthwales #sydney #historicplates #plates #heritagenumberplate #shannons #numericplates #historicplates #supercars #sold #lamborghini #ferrari #rollsroyce #bentley #bugatti #cars #amazingcars247 #singledigits #insane #shannonsauctions #shannons #porsche

A post shared by Scott Thomson (@scotty427thomson) on Aug 28, 2017 at 4:35am PDT

The opening bid for the plate at Shannons Sydney Winter Classic Auction was more than A$1 million, but offers quickly rose in A$100,000 installments when a bidding war broke out between two buyers, writes Business Insider.

Tseng is a number plate collector. He reportedly arrived in a red Ferrari with the No. 2 license plate. He also owns the No. 1 plate registered in Hong Kong and a Sydney-registered personalized license plate “ONE,” reports Business Insider.

Business Insider also writes that Tseng did not put his hand down during the auction. The number four is considered “unlucky” in Chinese, but Tseng was “adamant to purchase the exclusive plate.”