Man pays $9 million for license plate

For drivers wanting to show off their prestige and wealth when hitting the road in the United Arab Emirates, it's all about the license plate — the lower the single-digit number on the front of the government-issued plate, the better.

That's why Indian businessman and Dubai property developer Balwinder Sahni just dropped 33 million dirhams — or $9 million — to purchase license plate No. 5 at a government auction in October, Bloomberg reports.

The No. 5 plate now adorns one of Sahni's six Rolls-Royce cars, according to CNN Money. The wealthy businessman also owns a No. 9 license plate, which he purchased with a winning bid of 24.5 million dirhams — or $6.7 million — in 2015. The No. 9 plate is also affixed to one of Sahni's Rolls-Royce cars.

Check out some hilarious vanity plates below:

Sign up for the free Money Talks Newsletter

CNN Money says he has two additional Rolls-Royces on order, which will bring his collection of the luxury cars to eight.

Sahni described himself to CNN Money a "simple man." He says he's gotten a lot of attention and photo requests since he purchased the No. 5 license plate for $9 million.

The record for the most money spent on a license plate in the United Arab Emirates goes to businessman Saeed al-Khouri. Bloomberg says in 2008, al-Khouri dropped 52.2 million dirhams — or $14.2 million — to purchase the No. 1 license plate.

Bloomberg says the proceeds from the license plate auctions go to Dubai's Roads and Transport Authority.

What do you think of the big bucks wealthy individuals are dishing out for single-digit license plates in Dubai? Share your thoughts below or on Facebook.

More from MoneyTalksNews:
30 Awesome Things to Do in Retirement
Secret Cell Plans: Savings Verizon, AT
6 Stores That Allow Coupon Stacking