The Sharjah licence plate number 1 has fetched AED18 million ($4.9m) at an auction in the emirate.

It took just minutes from the opening bid for the price of the plate to rise from AED1 million ($272k) to its final value, according to reports.

Organisers had a tough time controlling the proceedings in a charged atmosphere at Al Jawaher Hall, reported Gulf News.

The winning bidder was Emirati businessman Arif Ahmad Al Zarouni.

“I attended the licence plate auction only to win number 1,” said Al Zarouni. “My ambition is always to be number 1. I have no plan to win other numbers.”

He said he was determined to buy the plate at any cost and that he has no intention to sell it.

A total of 60 distinguished licence plates were sold, generating more than Dh50 million. Rare numbers included 12, 22, 50, 100, 333, 777, 1000, 2016, 2020 and 99999.

Plate number 12 fetched Dh2,070,000, 22 fetched Dh2,080,000, 50 got Dh1,900,000, 100 and 333 were auctioned for Dh1.5 million each.

The bidders were required to submit a guarantee cheque which was refunded in case a number was not acquired by the participant.