‘2088’ Number Plates up for sale and James Spenceley is looking for a six-figure Mosman buyer!
Entrepreneur James Spenceley is selling his beloved “2088” number plates, for a staggering six figure sum.
The telco boss turned private investor, said to be worth than $50 million, has listed his custom plates with Shannons, where they will be auctioned next month. he spoke exclusively with Anna Usher this week.
ANNA: First things first James … why are you selling the 2088 number plates?
JAMES: It’s time to say goodbye for a very good reason Anna, because the new house we are building is actually in Cremorne – just across the Mosman “border” – so it’s probably time to let someone else enjoy the plates!
ANNA: Can I ask how much you bought them for?
JAMES: I purchased the plates about seven years ago for $40,000.
ANNA: Have they been a good investment?
JAMES: Numerical only number plates are a finite resource and have generally been a strong investment, increasing in value most years … that said, having the Mosman postcode on your car while living in Mosman has been fairly priceless! I have really enjoyed the interactions with local people when they see my car and as a superstitious person I believe the 8’s have brought me good fortune over the years.
ANNA: Who will the 2088 plates appeal to?
JAMES: Anyone with an interest in collecting. It’s a good, low numbered, four-digit plate that will interest Chinese buyers (with the double 8’s), a proud Mosman resident – or even better yet – a Chinese number plate enthusiast who lives in Mosman! !
ANNA: Any plans to trade in the Ferrari?
JAMES: No way. I love my car!
ANNA: Car stuff aside, how has business been for you over the Covid-19 period?
JAMES: I have an office in Neutral Bay and I am working from there at the moment. As far as investment goes, I’m just waiting to see a new generation of business start ups arise from the needs that come out of this pandemic. I started Vocus (which he led to a market capitalisation of $5 billion in 2016) during the GFC, so know that new businesses will evolve and prosper from here, I’m sure there are many out there as we speak.
ANNA: Have you got some tips for local investors?
JAMES: There’s a big disconnect from the economy to the stock market, so watch that closely. The Government in some ways has overstimulated the economy with increased payments, access to superannuation and rent/mortgage forbearance, so while Australia’s spending levels have recovered quickly, the real question is how sustainable the ‘over stimulation’ is – and what happens as it reduces. We’ve not yet seen the underlying condition of the economy.
ANNA: Thanks for speaking with us James!
JAMES: Pleasure as always Anna. Mosman Collective is my daily source of local news so keep up the great work!
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