Brits are trading in their personalised number plates in record numbers, as market value drops by up to 80 per cent.

The TV star, who shot to fame on Channel 4’s Posh Pawn, revealed: “There has been a huge slump in the value of personalised number plates and customers are rushing to my stores to cash in on them.

“Due to financial pressures, the market is awash with people wanting to sell their plates, which were once deemed the ultimate display of wealth. They tended to be the last thing the rich buy and the first to sell.

“Now the owners need to raise money, and the private plates are the first thing to go.

“Although many personalised plates remain in high demand, they are certainly not a clever investment anymore. In the good times early issue numbers particularly with a 1 preceding or succeeding limited letters would be in high demand with values commonly between 250-500k but with these buyers now being extremely thin on the ground they are likely to achieve a fraction of these figures. Generally values are 20 per cent of the highs seen in the pandemic.”

The DVLA showed transactions for private registration plates peaking in 2021, towards the end of the pandemic.

The pawnbroker added: “During Covid, people had a lot more time on their hands and money which they weren’t spending on holidays or activities. Number plates were an easy investment as you don’t need to touch or view them – just sign the paperwork.

“The prices of the plates skyrocketed but now the value is in freefall.”

Prestige Pawn is not only experiencing a surge in high-value number plates, but also the unprecedented demand for loans against classic and luxury cars.

James revealed: “Our storage facility houses hundreds of prestigious vehicles.

“Recently a client raised £450K against his classic car collection, which included an E-type Jaguar, Rolls Royce Silver Cloud and a Jenson Interceptor. The loan helped him to gap a shortfall in order to complete a property deal.

“Another customer secured a staggering £500K loan against their classic car collection of 12 rare classic cars, including two rare low-mileage E-type Jaguars (Coupe and Cabriolet), a rare 24000 mile one-owner Ferrari Dino and a fully restored Jaguar XK120.

“We are now inundated with classic cars and number plates! The demand is like nothing we have seen before.”

Prestige Pawn specialises in luxury items and its sales are a barometer of fashion and economic trends. The company values anything from jewellery and accessories to helicopters, Lamborghinis and secret letters from royals and rock stars.

Plans are advancing to revive the TV show which ran for seven series showcasing a revolutionary take on high-end pawn broking and the astonishing items that came into his stores.