Applying the hedonic approach, we find substantial and significant effects of vanity and superstition on the price of a Hong Kong license plate auctioned during 1989-1991. The superstition effect is culturally dependent. What is considered to be unlucky in Western Societies is dismissed in Hong Kong. By the same token, a Hong Kong license plate thought to bring good fortune is meaningless to a non-Cantonese-speaking person. Copyright © 1994 Published by Elsevier B.V.