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Chinese billionaire Peter Tseng just spent a record £1.5 million on a rare number plate
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Chinese-Australian billionaire Peter Tseng just splashed out A$2.45 million (£1.5 million / $2 million) on a No.4 license plate in New South Wales, Australia.
Tseng's purchase, at Shannons Sydney Winter Classic Auction, set a new record for the most spent on a number plate in Australia, according to local newspaper Domain.
The opening bid for the plate was more than A$1 million, but offers quickly rose in A$100,000 installments as a bidding war broke out between two buyers.
Tseng, who is a number plate collector and reportedly arrived in a red Ferrari with the No. 2 license plate, apparently did not put his hand down during the auction. He appeared adamant to purchase the exclusive plate, even though the number four is considered "unlucky" in Chinese.
He is also the owner of the No. 1 number plate registered in Hong Kong and a Sydney-registered personalised licence plate "ONE," Domain said.
The video below captures the moment Tseng's final offer of A$2.45 million was accepted to applause and cheers from the 300-strong crowd.
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It is understood Tseng bought the number plate from software entrepreneur Steve Shelley. Domain reported that the plates were last seen on Shelly's utility vehicle before they were registered at the auction with a guide price of between A$1.2 million and A$1.4 million.
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Tseng is the world's largest manufacturer of sex toys, according to the LA Times. He also has a wine collection worth millions of dollars. He was featured in the 2013 Australian film "Red Obsession."
YouTube/Lion Rock Films
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