Vehicle registration number "18" has been sold for $16.5 million, the highest auction price on record, the Transport Department says.

Today's auction included 40 car plates, with 38 sold fetching $33.69 million. Vehicle registration mark "29"  sold for $7 million, the second highest in the auction.

The sale proceeds of traditional vehicle registration marks, after the deduction of expenses, will go to the Lotteries Fund. The estimated net sale proceeds of personalised car plates will be used for poverty-alleviation initiatives.