He bought the number plate back in 2008 for £440,000 which at the time was a British record.
Afzal Kahn has spent several hundred thousand building his collection of private number plates. The most sought after of his number plates is the ‘F1’ number plate which currently sits on his Bugatti Veyron.
The business man caused a media frenzy in 2008 when he paid £440,000, which at the time was the most amount ever paid for a private number plate, with many claiming it was a bad investment. But fast forward 8 years and the business man seems to have the last laugh as one ultra rich individual offered Mr Kahn £6 Million for the plate.
However, Mr khan who runs A Kahn design in Bradford, unexpectedly turned down the offer as he believes the number plate is worth much more.
A spokesman for Mr Khan said: ‘We have received a significant multi-million pound offer for the F1 plate which we rejected out of hand.
‘Mr Kahn has no interest in selling F1, which is his favourite plate.’
‘Cherished number plates, unlike property or other investments tend not to fluctuate in value, they only go up.
‘It really shouldn’t be a shock to people that the number plate is worth millions of pounds.’
The plate itself, which is 115 years old, was on a Volvo S80 belonging to Essex County Councils chairman in 2008 at the time of the purchase. The funds from the sale where used to help a charity which to improve to the driving standards of young drivers.
Mr Kahn also owns another prestigious number plate ‘NO1’ which many believe will also fetch a multi million pound figure if ever sold.
Saeed Khouri, a business man from Abu Dhabi paid £7.1 million in 2008 for the number plate ‘1’. However, Mr Kahn remains adamant that the number plate is not for sale