Hadeel Hilal posted an article on Wednesday, March 29, 2023, at 1:08 am, which was last updated on the same day at 1:30 am. According to Major General Medhat Koraytem, former Assistant Minister of the Interior, the auction for the license plate, known as “the most expensive license plate in Egypt,” has not yet ended. The Ministry of Interior is responsible for announcing the final value of the sale. During a call to the “On My Responsibility” program with journalist Ahmed Moussa on the “Sada Al-Balad” satellite channel, he predicted that the individual who announced their intention to pay 50 million pounds for the plate must have misread the number by 99.9%. He also explained that citizens benefit from these auctions since they get a unique license plate while the money goes to the Long Live Egypt Fund. The most expensive car plate in Egypt was sold for 3 million pounds, and these auctions also occur in Saudi Arabia and the UAE to support their states. The auction sparked great reactions on social media. Only two people bid on the plate, which bears the number “MR 555.”
Hadeel Hilal
Posted on: Wednesday, March 29, 2023 – 1:08 am | Last updated: Wednesday 29 March 2023 – 1:30 AM
Major General Medhat Koraytem, the former Assistant Minister of the Interior, said that the auction of the license plate, which was described as “the most expensive license plate in Egypt,” has not ended yet, indicating that the Ministry of Interior is responsible for announcing the final value for its sale.
And he predicted, during a phone call to the “On My Responsibility” program, presented by the journalist Ahmed Moussa on the “Sada Al-Balad” satellite channel, on Tuesday evening, that the person who announced his intention to pay 50 million pounds for that painting, misplaced the number by 99.9%.
And he continued: «From my experience, this person has a 99.9% rate of putting the number wrongly, and if he made a mistake and said that he did not want to pay the 50 million pounds, he would lose the insurance that was paid at the beginning of the auction, and I think its value is 10 thousand pounds».
He pointed out that these auctions benefit both the citizen and the state, explaining that the citizen gets a distinctive painting, in exchange for directing the money in full to the Long Live Egypt Fund.
He stated that the most expensive car plate was previously sold for 3 million pounds, commenting: “The businessmen who bought these plates initially aimed to support the Long Live Egypt Fund, and Egypt is not the only one that holds these auctions. The matter is happening in Saudi Arabia and the UAE and is in the interest of the state.”
The value of the most expensive traffic sign in Egypt sparked widespread uproar and great reactions on social media.
The metal plate, which was offered for auction on Egypt’s electronic portal, has so far reached 50 million pounds.
Only two people bid on this plate, which bears the number “MR 555”, and it is considered the most expensive so far on the “Your Plate” website of the Ministry of Interior.
In conclusion, the auction of the most expensive license plate in Egypt has yet to be finalized, as confirmed by Major General Medhat Koraytem. Despite the controversy and uproar surrounding the high value of the plate, Koraytem stated that these auctions benefit both the citizen and the state, as the money collected goes towards supporting the Long Live Egypt Fund. While the bidding for this particular plate may have generated heated discussions on social media, it is worth noting that such auctions are not exclusive to Egypt and are held in other countries like Saudi Arabia and the UAE. As we await the final announcement from the Ministry of Interior, it remains to be seen whether the bidder who offered 50 million pounds will decide to follow through with his bid, and whether the plate will indeed fetch a record-breaking amount.
