- A Chinese billionaire has broken the record for the sale price of a licence plate
- Sex toy magnate Peter Tseng forked out $2.45m on No.4 plate at Sydney auction
- The wine collector has a history of buying iconic plates in Australia and abroad
The influx in Chinese spending across Australia has continued after a sex toy and wine magnate splashed out nearly $2.5million on a licence plate in a record deal.
Billionaire Peter Tseng purchased the number ‘4’ plate at Shannons auction house in Sydney on Monday and added his buy to his growing collection of iconic number plates.
He already owned the number ‘2’ plate in New South Wales, which he proudly flaunted on his Ferrari when arriving at the auction, as well as the coveted number ‘1’ in Hong Kong, Domain reported.
The influx in Chinese spending across Australia has continued after sex toy and wine magnate Peter Tseng splashed out nearly $2.5million on a licence plate in a record deal
Tseng already owned the number ‘2’ plate in New South Wales, which he proudly flaunted on his Ferrari when arriving at the auction, as well as the coveted number ‘1’ in Hong Kong
Despite four being an unlucky number in his motherland, Tseng joined the bidding at $1million and refused to back down until clinching the 1910 registered plate for an eye-watering $2.45million.
The astonishing sale price has smashed previous records and eclipsed the guide price of $1.2million, with a figure more akin to the booming Sydney property market.
His latest purchase has a rich history of owners, with software entrepreneur Steve Shelley the previous holder, who made a staggering $1.6million profit on his one year investment.
Art dealer Steve Nasteski has also owned the plate while loan provider John Symond was seen sporting the number on his Rolls Royce in 2014.
Art dealer Steve Nasteski has also owned the plate while loan provider John Symond was seen sporting the number on his Rolls Royce in 2014
Software entrepreneur Steve Shelley was the previous holder, registering it to his Toyota Tundra and made a staggering $1.6million profit on his one year investment
The astonishing sale price has smashed previous records, with a figure more akin to the booming Sydney property market.
The purchase adds to Mr Tseng’s growing reputation as an eccentric figure, brought to the Australian public eye during the documentary film Red Obsession.
The sex toy entrepreneur and wine collector appears in the film about China’s obsession with red wine and is quoted in the film saying: ‘When I was younger, I prefer sex. As I get older, I prefer wine.’