Change perspective on luxury

Take Vanity Tags to a Whole New Level
By MARGARET COKER
July 1, 2008; Page A1

ABU DHABI, United Arab Emirates -- With oil near record highs, the Persian Gulf is awash in cash, stimulating a return to some very conspicuous consumption.

Ferrari S.p.A. says sales in the Middle East leapt 32% last year. BMW Group's Rolls-Royce Motor Cars says the UAE, a country with a population of just 4.6 million, is now one of its top five global markets. All those expensive cars clogging the roads have given rise to another must-have status symbol: a prestigious license-plate number.
Managing Director Abdullah Al-Mannaei displays license plate number '1,' which sold for $14 million.

"Everyone has a nice watch, a nice car," says Abdullah Al-Mannaei, organizer of the city government's monthly auction of desirable numbers. "It's not enough to just have a Ferrari anymore."

Hundreds of men in starched robes descend on an opulent hotel here to vie for the most distinguished digits. Earlier this year, Abu Dhabi businessman Saeed Khouri made headlines and the Guinness Book of World Records when he paid $14 million for the tag simply sporting a "1." (The auction can be viewed on YouTube.) His cousin, stockbroker Talal Khouri, paid $9 million for "5" -- the second-largest sum ever paid for a license plate.



Thought this was a good dose of change perspective. When an entire city is filled with people who ALL have the usually signs of luxury (watch, car, housing) what becomes valuable? It goes to show how everyone wants to stand out and be an individual, even in a place where everyone is just like you. What's next? Luxury toaster ovens?