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Why Is This 1990s Volvo V70 Selling For $20 Million?

This dark blue Volvo V70 wagon has to be the most expensive Volvo on the planet. There is nothing unusual about it to warrant the $20 million asking price, but that is the price. Take it or leave it. So, why is this 1990s Volvo V70 selling for that much money?

Is someone out there willing to fork over $20 million for that NEW YORK plate?

Take a look at the license plate. Now you see it? The owner thinks there will be someone out there willing to fork over $20 million to get that one-only NEW YORK plate for New York. We knew that vanity plates were a big thing in New York, but a $20 million big thing? 

Volvo V70 with NEW YORK Plates
Volvo V70 NEW YORK Plates | duPont Registry

First of all, the ad for this wagon does not give its year. So late-1990s to early-2000s is the best we can do. We also cannot forward to you the mileage or model for the same reason. Even the ad is all about that NEW YORK vanity plate. 

Also of note is that according to Autoblog this plate is not the one originally released in 1970. Instead, it is a more current license plate, which New York lets you do for a few extra bucks. According to the accompanying story in the duPont Registry listing, it wasn’t even the owner’s idea to get a NEW YORK license plate. 

The ad also says you can transfer a vanity plate to any vehicle

RELATED: This State Has the Most Personalized License Plates

The owner’s daughter was the one to suggest that he get it right after the vanity plates became available in 1970. While we would have expected it to be one of the earliest plates snagged it was still available when the family first put in for the plate. The ad also says you can transfer a vanity plate to any vehicle. You know, in case an old V70 Volvo isn’t what you would want your $20,000 license plate to go. 

Volvo V70 NEW YORK Plates rear 3/4 view
Volvo V70 NEW YORK Plates | duPont Registry

But there is a wrinkle in all of this. As far as we know when you sell a car in New York you have to surrender the license plates. You can transfer them to your new car, but that is supposedly the only option to giving them back. In fact, the state won’t even let you do that unless the name on both registrations is the same. 

“The new owner does not use the vehicle plates of the previous owner” 

With vanity plates, it is only slightly different. You can store the plates with the DMV if you don’t have a car right away to put your plates on. The state will then reinstate them to you once you come up with a replacement vehicle. It goes further to state that “the new owner does not use the vehicle plates or the registration items of the previous owner.” 

So before you rush out to snag the NEW YORK plates that also happen to come with an old V70 wagon, make sure they’re really yours. Otherwise, you’ll end up with a $20 million Volvo that isn’t worth a fraction of that amount.