Businessman Afzal Kahn received an offer of £6 million for his registration plate, and he turned it down.
Kahn bought the plate in 2008 for a not inconsiderable £440,625 and put it on his Bugatti Veyron.
And while it might sound like silly money, it was clearly a worthwhile investment, because even during the credit crunch years, it appears to have increased its value almost 13 times over in half a decade.
Kahn believes that the plate is worth more than he was offered.
A spokesman said in quotes picked up by the Daily Mail:
We have received a significant multi-million pound offer for the F1 plate which we rejected out of hand. Mr Khan has no interest in selling F1, which is his favourite plate. Cherished number plates, unlike property or other investments, tend not to fluctuate in value, they only go up. It really shouldn't be a shock to people that the number plate is worth millions of pounds.
With its motor racing link, and a wealthy elite always looking for the perfect complement to their sports cars, it's not hard to see why "F1" could be the most sought-after plate in the UK.
It's not clear who made the offer, but it could quite happily grace a car belonging to the likes of F1 supremo Bernie Ecclestone, or even a current driver such as Lewis Hamilton.
That said, the plate's origins were somewhat humbler. According to SWNS, the "F1" registration plate is 109 years old and accordingly predates the sport by half a century. When Mr Kahn bought it, it was adorning a Volvo S80.
£6 million, SWNS add, would have been enough to buy six more Bugatti Veyrons, 75 Range Rovers, or even, if Mr Kahn were so inclined, 600 Ford Fiestas. Not bad money for a letter and a digit placed side by side.