A number 1 license plate was auctioned off for $14.3 millions at an Emirates Auction. 

The oil-rich cities of the Persian Gulf are driven by car culture, with relatively few pedestrian areas or public transport options.  Vanity plates are a matter of personal pride and indulgence.

The value of a plate depends on a mix of math and emotional appeal.  Normal license plates have 5 randomized numbers.  From there, they get more expensive.  Prices go up for fewer digits and cooler numbers.  Number one is considered the most prestigious.