ABU DHABI, United Arab Emirates -- With oil near record highs, the Persian Gulf is awash in cash, stimulating a return to some very conspicuous consumption.Ferrari S.p.A. says sales in the Middle East leapt 32% last year. BMW Group's Rolls-Royce Motor Cars says the UAE, a country with a population of just 4.6 million, is now one of its top five global markets. All those expensive cars clogging the roads have given rise to another must-have status symbol: a prestigious license-plate number.
Earlier this year, Abu Dhabi businessman Saeed Khouri made headlines and the Guinness Book of World Records when he paid $14 million for the tag simply sporting a "1." The "1" tag bought by Saeed, 25, was a coup for the family, says his 21-year-old younger brother Hamdan.
"We are lucky. We have the money to get what we want. We want to be the best," Hamdan says.
Earlier this year, Abu Dhabi businessman Saeed Khouri made headlines and the Guinness Book of World Records when he paid $14 million for the tag simply sporting a "1." The "1" tag bought by Saeed, 25, was a coup for the family, says his 21-year-old younger brother Hamdan.
"We are lucky. We have the money to get what we want. We want to be the best," Hamdan says.
From: http://online.wsj.com/article/SB121487292883417859.html?mod=hpp_us_pageone
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