Vehicle owners pay for auctioned car number plates in Shanghai, March 21, 2012. [Photo / CFP]

The auction price of a car number plate in Shanghai has neared 60,000 yuan ($9,509.92), almost half the price of a new car.

The lowest bid price in March reached a record high of 58,300 yuan, with the average bid price coming to 58,625 yuan.

Prices of the city's car number plates have surpassed 50,000 yuan for four consecutive months.

Shanghai is the only Chinese city to use an auction to control plate supply.