Registration 4O for sale

One must be british to understand that.
What do you actually bid on ? A numberplate or livelong taxfree driving ?
May someone explain

Yes, what you are actually buying is the right to use that number on your car.
Once you own a number in the UK you can transfer it from car to car or sell it.

There is a big market in the UK for personalised plates and the Government 'stealers' have got in on it by auctioning previously unissued numbers for vast sums.
Here in Seattle we pay $30 a year and you can grab any combination of 7 letters/words you want...within limits of acceptability. Recently we had a kid driving around with "GOTMILF" which apparently got him in some trouble.

I have "2VELOCE" (too fast in Italian) on one of my sports cars and "SIX PAK" (last name is Beer and the wife and I have four kids) on the family car. Kinda fun. it, also if is a mix between italian and english :)
In italiano that will be TROPPO VELOCE (too fast) but could be impossible to have on a car plate.
Love it Cliff! Bravo