Let's bring down the price of COE together

[Tyrian]

With the tightening COE supply by the government, COE prices are feeling the pressure by going upwards.

 

Every 2 weeks or so, when the COE results are announced, all we know are the final results of the COE payable. However, has anyone tried following the trend of the COE and how prices move?

 

I've took the initiative to monitor COE price movement for the last 40 minutes before the bidding ends and found surprising results

 

What i've done is to collect screenshots of the live COE bidding results which ended a few days ago and keyed into excel. From there, a scatter graph is done.

 

My conclusion is, we all only need $1 to outbid the other bidder, not $1.5k extra.

 

I hope everyone can play a part by bringing down COE prices and not let the bike/car shops who bid on our behalf just to meet their sales target.

 

PS: im not sure how to upload my excel file using the forum controls. im only able to do screenshots.

[Tyrian]

Cat A analysis

 

There are bidders who bid at 9k, 10k+.

 

Steep gradients represent high bidding price. As in the next bidder places a much higher bid than the previous bidder.

 

after 50k, bids seems to have a gentle gradient, which shows that people are willing to pay around 60k+ range of Cat A COE before the gradient becomes nearly flat.

 

from the graph, it is apparent that the steepest gradient happens between $0 and 10k, and between 20+k and 45k+. This shows that no one is bidding in that range

 

there are different expectations among bidders. the lowest bid captured is a as low as 9k. with the final bid price stands at 68k, it is clear that some bidders are willing to pay a high price just to secure a Cat A COE while some are just trying to see if it can be a low price.

 

[Silent Hunter]

Probably bidded by car dealers, because they can pass on the cost to the consumers mah.

 

If bidding for their own use, you think they will bid so high mare?

Bid a few hundreds dollars already stop liao loh.

[yatan73-regok]

With the tightening COE supply by the government, COE prices are feeling the pressure by going upwards.

 

Every 2 weeks or so, when the COE results are announced, all we know are the final results of the COE payable. However, has anyone tried following the trend of the COE and how prices move?

 

I've took the initiative to monitor COE price movement for the last 40 minutes before the bidding ends and found surprising results

 

What i've done is to collect screenshots of the live COE bidding results which ended a few days ago and keyed into excel. From there, a scatter graph is done.

 

My conclusion is, we all only need $1 to outbid the other bidder, not $1.5k extra.

 

I hope everyone can play a part by bringing down COE prices and not let the bike/car shops who bid on our behalf just to meet their sales target.

 

PS: im not sure how to upload my excel file using the forum controls. im only able to do screenshots.

 

Can you elaborate on how to use $1 to outbid others?

[Tyrian]

Can you elaborate on how to use $1 to outbid others?

 

there's no way to outbid them using the $1 strategy

 

the only strategy to bring down the COE price is to change the mindset of consumers that it is uncool and unwise to pay so high for COE, which only leds to higher cost of car ownership and more revenue for banks as interest.

[Tyrian]

Probably bidded by car dealers, because they can pass on the cost to the consumers mah.

 

If bidding for their own use, you think they will bid so high mare?

Bid a few hundreds dollars already stop liao loh.

 

yes, the reason why car dealers are bidding so high is because the consumer allows them to do so.

 

anyway, if we look at cat D COE, i wonder who is the dealer who bids so many COE during the lsat 2 min.

[MR BIKER]

yes, the reason why car dealers are bidding so high is because the consumer allows them to do so.

 

anyway, if we look at cat D COE, i wonder who is the dealer who bids so many COE during the lsat 2 min.

 

Obviously its not our standard bread and butter riders where 50c also, can also lowball. so its probably the megarich guys who buy the ducati or HD or MOST probably the big shops.

[Tyrian]

Obviously its not our standard bread and butter riders where 50c also, can also lowball. so its probably the megarich guys who buy the ducati or HD or MOST probably the big shops.

 

true , megarich is one thing. it may be considered small change to them but still, consumer mindset needs to change

 

we need to change our mindset that paying high COE is stupid.

 

we can't control the supply of COE, we can change our expectation by shifting demands. but we definitely can change the way we look at COE prices.

 

remember, paying a high price for a piece of COE is giving more money to the government and also interests to banks. we can save these money for other uses instead.

[shahrul_azmil3]

How do we do that exactly?

 

When its time come, coe need to be renewed. Whatever the price is, it still need to be renew. Since used bike is usually a ticking down clock. Cant wait n see when the time comes.

 

 

 

 

 

 

Azmil Sempit

[Tyrian]

we do not bid for a COE for used bike. we pays the average of past 3 months bidding results instead.

 

bidding for COE is only needed for new bikes.

[736cc]

if you guys got take note, many company buy bike for their worker to run around and i guess those are the one who drive the bike COE till so high.

 

eg: ntuc insurance biker, mc rider, LTA offcer rider and many other company..

[shahrul_azmil3]

we do not bid for a COE for used bike. we pays the average of past 3 months bidding results instead.

 

bidding for COE is only needed for new bikes.

 

Oh. . . . .

 

 

 

 

 

 

Azmil Sempit

[Tachnicolour]

Change of mindset? About as likely as asking for COV to come down. As long as there are people who want such-and-such items here and now, they'd be willing to pay.

 

And, not that COE is the perfect solution, but if everyone could afford cars cheaply. *shudder*

 

Then people will complain that roads too congested.

 

Then they will widen roads etc. Eat up land space.

 

Then people will complain housing lagi more expensive.

 

[Silent Hunter]

There has to be a way man...

[shahrul_azmil3]

Looks like its small or old car for me then.

 

 

 

 

 

 

Azmil Sempit

[kaiq]

I don't see how we consumers can bring down COE price, since most prefer to ask their dealer to bid on the COE and not bid on their own.

 

When people are rich, they can pay any price they want. The only time when I see COE price dropped is during an economic recession.

 

For those interested, here's a motorcycle PQP snapshot of the past 10 years I'm monitoring for fun.

[Tyrian]

the reason why people pay high price for these COE is because they allow it to happen. they are happy with paying 1.5-2k of for a piece of cat D COE

 

people failed to realise that we can make a difference in the way things are happening right now, that is to change the mindset that paying more for COE doesn't equate to value.

 

if things continue to be the way it is, the gahments, banks and dealers are laughing all the way to the bank. consumers are the one who lose out and when the next recession hits, people will feel dumb paying so much for it.

 

we can't change the supply of COE, we can't control market demand but everyone can believe in people power.

[shahrul_azmil3]

Yeahhhhh!!!! People power! !!!

 

But till now i nvr buy new first hand vehicals so i really do not play a part.

 

 

 

 

 

 

Azmil Sempit

[Demon]

Yeahhhhh!!!! People power! !!!

 

 

Azmil Sempit

 

Yeah rite !

 

Unfortunately, in Singapore, when I outbid you by $1, that's power !

[Tyrian]

Yeah rite !

 

Unfortunately, in Singapore, when I outbid you by $1, that's power !

 

and that's why people are so dumb. people who bid high for COE is telling the whole world they are dumb enough to pay more money for a 10 year lease of vehicle from the government whereas other people doesn't do that.

 

i have no issues with people who are willing to pay more. that's because these people move the economy, and provide more businesses to the bank.

 

and i dont blame them coz its the good economy lookout that makes them behaves this way. they have been conformed to the norms of the society. and the norm is when u r rich, u spend more than what u can afford.

 

we are smart people. we can bring down the price of COE together if we can set a target price $1 per bid. Technically, there is a way for us to use the $1 method, but it will never work in SG.

[Tachnicolour]

there's always the possibility.

 

I wouldn't to go so far as to call them dumb.

 

Then again, if people here could ever adopt that mentality, then there would be no one paying COV. There would also be no one sending their kids to tuition.

 

It's the same ol same old "gotta have before you, mine's gotta be bigger than yours, gotta be better than you" mentality which drives competitiveness at work here.

 

That being said, of course not everyone in Singapore subscribes to that kind of thought process. Them, gotta be happy with what they got then I suppose. Happiness is as you make it.

 

Of course, can always blame the dealers. If one shop guarantees you COE, whilst the other tells you to wait till $1 COE comes around, no prize for guessing which one most would go for. So the shops just bid bigger. Cuz people, if they have the means to, will just pay them more to get it here and now.

[Silent Hunter]

F! Them all lah! If got money I am going to teach all these greedy dealers a harsh lesson they will not soon forget!

I am going to bid the MAX amount for ALL the COEs every month, after 1 year then stop, then sell all the 9 year left COEs at twice that price! See how many dealers can take it selling no cars for 1 year.

 

KNN.Want to play might as well drive up all the way for them lah!

Then 3 things will happen.

 

1. Most people really cannot afford cars liao. Imagine I go and bid COE at $150,000, sell at $300,000. Price of most cars will be more expensive than 3 room flats.

2. Government kena screwed left and right for not being able to get the roads less congested, despite such hideous COE prices and might be forced to scrape the COE idea since it will be an election year after that.

3. When I stop bidding the next year, COE drop like mad and there will be many $1 COE again.

[aRcHeR]

they will just scrap the car and get back the PARF and balance COE value back if the current COE is lower than what their car's COE is worth.

[bruce71]

and that's why people are so dumb. people who bid high for COE is telling the whole world they are dumb enough to pay more money for a 10 year lease of vehicle from the government whereas other people doesn't do that...

 

 

... they have been conformed to the norms of the society...

 

we are smart people. we can bring down the price of COE together if we can set a target price $1 per bid. Technically, there is a way for us to use the $1 method, but it will never work in SG.

 

i am glad that there are still some sensible people out there in the current wave of maddening crowd of insane COEs & COVs ( what's with the ...Cee.hOr.Garmen??? )

 

1) in 2002 ( 10 years back ), there was $1 COE for bikes, i know cause i renew my Previous bike's COE for $13 ( no typo, there are no 0s at the end )

 

2) problem is many ahem...FTs & many Singaporeans also do not bother to understand the COE system. i once had to explain the bidding system to a bike salesman working in a shop! many bikers i come across in real life do not even know how the price is determined, ahem new comers dunno & just pay, local-born ones too shy to admit & ask & pay n pay. Face saving is more important than saving money? i am amazed by such widespread ignorance about the system.it is this widespread misunderstanding that indirectly allows so many price manipulation by you know who.

 

3) actually the system is very very very simple, really! anybody wants to know can just go call LTA or check website to find out, if people can't be bothered to find out even when prices are so high, then how can they save themselves? facepalm, personally i am so disheartened long time ago already, give up!

Edited September 18, 2012 by bruce71

[MR BIKER]

In the olden days when a group of people (or a person) planned to make changes they had a gathering and quietly discussed the matters. Not we bring this up on the 'WHOLE WIDE WORLD" page and everyone can see. everyone?? yes??? who??/ who else. so how to bring price down?? surely they will counteract lah!!! correct or not??