How does COE bidding work?

[GranDieu]

I was at onemotoring.com.sg and had a look at Dec 06's COE bidding results. It says that for Cat D (Motorcycles), the premium was $1210. 684 bids were submitted with 454 COEs available, 448 bids were successful and 6 COEs were carried forward (presumably to Jan 07).

 

With a system reserve price of $1, it means that any bid above $1 would be accepted right? So with 684 bids in total, why were there only 448 successful bids when there were 454 available COEs? How was the quota premium of $1210 derived?

[nsrboy]

For that particular month, the quota is 454 COEs for CAT D (Motorcycles). 684 people submitted their bids starting from $1 onwards. However as supply exceed demand, price for the COE increases. As price increases, not all people are willing to pay a high price for the COE. Thus that explains why 230 bids were unsuccessful. At the price $1210, only 448 people were willing to pay that amount. The quota for that month which is 454, minus the successful bids which is 448, left you with 6 unused COEs which will be carried over to the next month.

 

p.s : dun flame me if i am wrong.

[GranDieu]

Originally posted by nsrboy@January 16, 2007 02:06 am

For that particular month, the quota is 454 COEs for CAT D (Motorcycles). 684 people submitted their bids starting from $1 onwards. However as supply exceed demand, price for the COE increases. As price increases, not all people are willing to pay a high price for the COE. Thus that explains why 230 bids were unsuccessful. At the price $1210, only 448 people were willing to pay that amount. The quota for that month which is 454, minus the successful bids which is 448, left you with 6 unused COEs which will be carried over to the next month.

 

p.s : dun flame me if i am wrong.

Hmm... I see what you are getting at but the question is, how did the price stabalise at $1210? Who decided that to be the cutoff mark?

[limbat]

Originally posted by nsrboy@January 16, 2007 02:06 am

For that particular month, the quota is 454 COEs for CAT D (Motorcycles). 684 people submitted their bids starting from $1 onwards. However as supply exceed demand, price for the COE increases. As price increases, not all people are willing to pay a high price for the COE. Thus that explains why 230 bids were unsuccessful. At the price $1210, only 448 people were willing to pay that amount. The quota for that month which is 454, minus the successful bids which is 448, left you with 6 unused COEs which will be carried over to the next month.

 

p.s : dun flame me if i am wrong.

 

 

wrong mate ................. go check out LTA web site ....................

[GranDieu]

Originally posted by limbat@January 18, 2007 01:17 am

 

wrong mate ................. go check out LTA web site ....................

Is there a write-up in the website describing how it works? If yes, can you provide a link?

 

I can't find anything substantial on this... mana ada transparency man...

[Ah_Pet]

guys,

 

anyone can teach to how to bid for COE (renew)?

[Ah_Pet]

one mroe thing.. can renewing COE can pay by installment?

 

criedt company or LTA?

[limbat]

Originally posted by GranDieu@January 19, 2007 12:34 pm

Is there a write-up in the website describing how it works? If yes, can you provide a link?

 

I can't find anything substantial on this... mana ada transparency man...

 

 

http://www.onemotoring.com.sg/publish/onem...ew_vehicle.html

 

[Ah_Pet]

Originally posted by limbat@January 20, 2007 06:20 pm

 

http://www.onemotoring.com.sg/publish/onem...ew_vehicle.html

 

thankz

[Guest NPNT]

how is the COE concluded at that particular amount?

[seoulnow]

how is the COE concluded at that particular amount?

 

wa lao so old thread you also dig out . . .

 

lets say 6 people bidding for 3 available COEs.

 

Mr. A bid $3

Mr. B bid $5

Mr. C bid $9

Mr. D bid $11

Mr. E bid $12

Mr. F bid $16

 

The price of that month COE will thus be $11/- as they take the top 3 (no. of COEs available that month) highest bid, but set the price at the lowest successful bidder. So everyone here pays $11/-

 

Another example, now 11 bidders for 5 COEs.

 

Mr. A bid $3

Mr. B and Mr. C both bid $4

Mr. D & Mr. E both bid $6

Mr. F bid $8

Mr. G & Mr. H & Mr. I bid $89

Mr. J bid $190

Mr. K bid $34323

 

Thus Mr. G, H, I, J, & K will get the COE, and the COE price will be at $89/-

 

In in theory, you are guaranteed a COE if you bid at $999999/-, but bear in mind if everyone puts kiasu numbers like these, the COE might actually cost $999999/- if you take the 2nd example and Mr. G - K all kiasu put in $999999/- !!!!

 

Only need to bid if you buying a new vehicle, renewal, just need to pay the Prevailing Quota Premium PQP which can see from the website.

[Guest NPNT]

icic. so m i right to say that most (1500++ ppl) of the successful bidders this time round put in $2? since smallest amt is $1...

 

but unlikely mah...

[NL27]

wa lao so old thread you also dig out . . .

 

lets say 6 people bidding for 3 available COEs.

 

Mr. A bid $3

Mr. B bid $5

Mr. C bid $9

Mr. D bid $11

Mr. E bid $12

Mr. F bid $16

 

The price of that month COE will thus be $11/- as they take the top 3 (no. of COEs available that month) highest bid, but set the price at the lowest successful bidder. So everyone here pays $11/-

 

Another example, now 11 bidders for 5 COEs.

 

Mr. A bid $3

Mr. B and Mr. C both bid $4

Mr. D & Mr. E both bid $6

Mr. F bid $8

Mr. G & Mr. H & Mr. I bid $89

Mr. J bid $190

Mr. K bid $34323

 

Thus Mr. G, H, I, J, & K will get the COE, and the COE price will be at $89/-

 

In in theory, you are guaranteed a COE if you bid at $999999/-, but bear in mind if everyone puts kiasu numbers like these, the COE might actually cost $999999/- if you take the 2nd example and Mr. G - K all kiasu put in $999999/- !!!!

 

Only need to bid if you buying a new vehicle, renewal, just need to pay the Prevailing Quota Premium PQP which can see from the website.

 

hi bro,

 

can i know if i renewing my COE but i wanted to change to a new number plate, must i go thru those first time bidding ?

 

thanks

[seoulnow]

hi bro,

 

can i know if i renewing my COE but i wanted to change to a new number plate, must i go thru those first time bidding ?

 

thanks

 

no need. you should :

 

1. Renew COE by paying the PQP, listed on the onemotoring website, no bidding required, just pay at counter.

 

2. either bid for a new motorcycle plate and replace or i think can ask LTA to assign. But fees payable.

[NL27]

no need. you should :

 

1. Renew COE by paying the PQP, listed on the onemotoring website, no bidding required, just pay at counter.

 

2. either bid for a new motorcycle plate and replace or i think can ask LTA to assign. But fees payable.

 

thanks for the info,

 

but u stated that i stil need to go bid with others , although i hope i just need to pay at the counter and get a new set of number. as im not sure how to bid like the lst time. it seems very troublesome

[seoulnow]

____________________

Edited February 3, 2011 by seoulnow

[contrarian]

icic. so m i right to say that most (1500++ ppl) of the successful bidders this time round put in $2? since smallest amt is $1...

 

but unlikely mah...

 

Nope. Only 1 person has to bid $2 and all the rest are bound by the lowest successful bid even if they bid $2,000.

[Killer_Wave]

wa lao so old thread you also dig out . . .

 

lets say 6 people bidding for 3 available COEs.

 

Mr. A bid $3

Mr. B bid $5

Mr. C bid $9

Mr. D bid $11

Mr. E bid $12

Mr. F bid $16

 

The price of that month COE will thus be $11/- as they take the top 3 (no. of COEs available that month) highest bid, but set the price at the lowest successful bidder. So everyone here pays $11/-

 

Another example, now 11 bidders for 5 COEs.

 

Mr. A bid $3

Mr. B and Mr. C both bid $4

Mr. D & Mr. E both bid $6

Mr. F bid $8

Mr. G & Mr. H & Mr. I bid $89

Mr. J bid $190

Mr. K bid $34323

 

Thus Mr. G, H, I, J, & K will get the COE, and the COE price will be at $89/-

 

In in theory, you are guaranteed a COE if you bid at $999999/-, but bear in mind if everyone puts kiasu numbers like these, the COE might actually cost $999999/- if you take the 2nd example and Mr. G - K all kiasu put in $999999/- !!!!

 

Only need to bid if you buying a new vehicle, renewal, just need to pay the Prevailing Quota Premium PQP which can see from the website.

 

Does that means that if everybody cooperate, all bid at $2, Hence the price would stay around that level ? If that the case, hope everybody bid as low as possible man.

[Demon]

Does that means that if everybody cooperate, all bid at $2, Hence the price would stay around that level ? If that the case, hope everybody bid as low as possible man.

 

If 800 bids were received, all bids were $2 but quota for that exercise for that Category is 799, then all don't get COE.

 

Knowing Singaporeans, there will be a few who agreed on $2, but will submit $3 bid. So only that few will get COE, and the balance COEs will be carried forward.