Bidding Online for VIP/Fancy Numbers
At C1 India we have been a firm believer in web-auctions for not only running streamlined, efficient and transparent systems for procurement & purchase but also in realizing the true value of resources which do not have a standard market rate. Spectrum, FM radio station and coal block auctions are some such examples. All of these do not have a market rack rate and hence a mechanism, which helps in discovering the right price, is required.
For instance consider the case of fancy numbers. The trend for fancy numbers is on the rise. However, most of the state governments haven’t been too aggressive in exploiting this opportunity. Some states lead the way and have migrated to e-Auctions for fancy numbers.
The trend of fancy numbers is growing not only on the account of pure fashion and style statement but also on account of belief in luck and destiny that numbers bring to one’s prosperity. Many Indians believe in numerology and hence prefer some combinations of numbers to others. This has contributed to the growth of fancy numbers in growing middle class of India. The RTOs aren’t complaining either. They are quickly migrating to e-Auctions and eager to earn more revenue for the government.
For instance, Delhi has adopted the process of e-Auctions for VIP / fancy numbers. Many other state governments are lining up to move fancy number allotment through e-Auctions. It will also bring much needed transparency to the fancy number allotment system.