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(ECNS) -- New records were set by rich automobile-owners in south China's Shenzhen city during an online bidding for so-called "auspicious" car plates on Saturday.
The local traffic management bureau has decided to hold 10 online auctions, twice a day, for 500 car plates with successive numbers.
In the two auctions on the first day, a bidder paid the unprecedented price of 1.03 million yuan ($170,000) for one license plate, simply because "BB888Q" sounds auspicious.
A plate with "BB336N" was the lowest earner of the day, at 30,000 yuan.
Altogether 100 car plates fetched 19.21 million yuan, which will be used to fund public transportation or road accident assistance, the bureau said.
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