Bikers unite. Bid for your own COE!!!

[limws1]

To All Singapore bikers,

Cat D COE price has been going up the roof. This is due to bike shops bidding ever higher prices to secure COEs for their bike stock. As Singapore bikers, we should must be united and correct this! Bid for your own COE and do not set bid price more than $1k. Boycott bike shops for 3 months for their existing COEs to expire. Let them suffer big losses for speculating on COE prices. Do not buy new bikes that come with COE, always tell the bike shops you will use own COE that you have successfully bid.

Finally, if you have bid for your own COE, post a picture of yourself online be it on FB, Insta, or any social media platform with a message saying, you have bid your own COE. Help to promote this change. Don't let bike shops bid COE for us and make us pay unnecessarily for a piece of paper.

Regards,

Lim W.S.

[snooptrader]

Personally, looking at the eye-popping COE prices, it can be off-putting to acquire a bike. On market forces type of thing, it boils down to the prisoner's dilemma where parties don't trust each other. Assuming those that bid for the COE goes for S$1k. There would be parties who might bid for S$2k or much more depending on their own personal circumstances, financial or needs of getting a bike.

However, your theory isn't in vain, as the pandemic markets of 2020 showed us what the Reddit crowd did to professional short-sellers on the meme stocks - remember Gamstop, Bed and Bath and all those crappy companies? The dramatic retail investors cause the professional managers to suffer losses. Such a social market movement was quite unimaginable.

Coming back to the COE prices of bikes. Ultimately, market equilibrium will take hold and if forecasts are correct about slowing global economic growth, that will unfortunately and eventually flow down to discretionary consumption like a motorbike.

Anyway, this is just my two rubles, but hey, if S$1k COE is it.. yea, why not? That's quite an idea.

 

 

[adesmond2]

On 10/23/2022 at 3:37 PM, limws1 said:

To All Singapore bikers,

Cat D COE price has been going up the roof. This is due to bike shops bidding ever higher prices to secure COEs for their bike stock. As Singapore bikers, we should must be united and correct this! Bid for your own COE and do not set bid price more than $1k. Boycott bike shops for 3 months for their existing COEs to expire. Let them suffer big losses for speculating on COE prices. Do not buy new bikes that come with COE, always tell the bike shops you will use own COE that you have successfully bid.

Finally, if you have bid for your own COE, post a picture of yourself online be it on FB, Insta, or any social media platform with a message saying, you have bid your own COE. Help to promote this change. Don't let bike shops bid COE for us and make us pay unnecessarily for a piece of paper.

Regards,

Lim W.S.

 

On 10/23/2022 at 7:42 PM, snooptrader said:

Personally, looking at the eye-popping COE prices, it can be off-putting to acquire a bike. On market forces type of thing, it boils down to the prisoner's dilemma where parties don't trust each other. Assuming those that bid for the COE goes for S$1k. There would be parties who might bid for S$2k or much more depending on their own personal circumstances, financial or needs of getting a bike.

However, your theory isn't in vain, as the pandemic markets of 2020 showed us what the Reddit crowd did to professional short-sellers on the meme stocks - remember Gamstop, Bed and Bath and all those crappy companies? The dramatic retail investors cause the professional managers to suffer losses. Such a social market movement was quite unimaginable.

Coming back to the COE prices of bikes. Ultimately, market equilibrium will take hold and if forecasts are correct about slowing global economic growth, that will unfortunately and eventually flow down to discretionary consumption like a motorbike.

Anyway, this is just my two rubles, but hey, if S$1k COE is it.. yea, why not? That's quite an idea.

 

 

I had this idea long time ago.. but I wonder need how many people to bid COE on a monthly basis to bring down the COE pricing.. if like this,, might as well bid $1 right? can bring the pricing down further based on "average" bidding price.. 

[limws1]

53 minutes ago, adesmond2 said:

 

I had this idea long time ago.. but I wonder need how many people to bid COE on a monthly basis to bring down the COE pricing.. if like this,, might as well bid $1 right? can bring the pricing down further based on "average" bidding price.. 

Firstly, there must be a coordinated effort to stop buying bikes for 3 months before buyers can use their own COE. As long as bike shops have COE in stock, they will not sell bikes to buyers with own COE. So we need to tell all our bikers bros and sis not to buy bikes for the next 3 months.

 

Edited October 28, 2022 by limws1

[adesmond2]

29 minutes ago, limws1 said:

Firstly, there must be a coordinated effort to stop buying bikes for 3 months before buyers can use their own COE. As long as bike shops have COE in stock, they will not sell bikes to buyers with own COE. So we need to tell all our bikers bros and sis not to buy bikes for the next 3 months.

 

hard for people not to buy bikes..

[leong77]

Feels your frustration. But this is not how the reality works.

The problem lies with the system. The system allows such practice. This is a loophole which the Agency knows but this loophole generates millions $$$ every month.

If all the motorcyclists stop buying new motorcycle for 3 months, what's next? Ultimately you still have to follow 3 months later. 

Before COE, we do have a system whereby a scrap letter (old vehicle) is required to register a brand new vehicle. That was till date the best way to control the vehicle population. However it did not bring much revenue to the agency. Thus it was replaced by COE. 

Soon Bicycle also needs COE liao...

[adesmond2]

3 minutes ago, leong77 said:

Feels your frustration. But this is not how the reality works.

The problem lies with the system. The system allows such practice. This is a loophole which the Agency knows but this loophole generates millions $$$ every month.

If all the motorcyclists stop buying new motorcycle for 3 months, what's next? Ultimately you still have to follow 3 months later. 

Before COE, we do have a system whereby a scrap letter (old vehicle) is required to register a brand new vehicle. That was till date the best way to control the vehicle population. However it did not bring much revenue to the agency. Thus it was replaced by COE. 

Soon Bicycle also needs COE liao...

they say bicycle used to have registration number one.. but too much to track and thus scrap that off.. 

why don't scrap motorcycle registration also?.. hahahahahaha 

even my PMD.. every 2 years have to go and renew..

[leong77]

4 minutes ago, adesmond2 said:

they say bicycle used to have registration number one.. but too much to track and thus scrap that off.. 

why don't scrap motorcycle registration also?.. hahahahahaha 

even my PMD.. every 2 years have to go and renew..

Aiyah....they are clueless about bicycle.
Everyone is calling for compulsory registration and insurance. Yet they scared to implement. Maybe no meat for them. Or some big shot are cyclists.

What to do? 

[stkoh78]

On 10/28/2022 at 11:32 AM, limws1 said:

Firstly, there must be a coordinated effort to stop buying bikes for 3 months before buyers can use their own COE. As long as bike shops have COE in stock, they will not sell bikes to buyers with own COE. So we need to tell all our bikers bros and sis not to buy bikes for the next 3 months.

 

I not sure if the bike shops will directly tell the buyer that they won't sell the bike if they are using own their own COE.  I feel that the bike shop will up the the bike price if the buyer choose to get use own COE. Likewise , they will also impose additional charge if the buyer choose not to take up any loan.

[jasperchc]

Yes, please stop giving deposit to shop to bid, they will just drives the price up.

[apogeeXX]

On 3/9/2023 at 11:26 PM, stkoh78 said:

I not sure if the bike shops will directly tell the buyer that they won't sell the bike if they are using own their own COE.  I feel that the bike shop will up the the bike price if the buyer choose to get use own COE. Likewise , they will also impose additional charge if the buyer choose not to take up any loan.

Then just walk away and try the next one.
It's because people just give in that the shops continue to do what they do.

[jasperchc]

I dont think bike shop will refuse to sell without COE, because whether its their COE or individual COE, its the same COE price.  Maybe last time when T-COE can hold for 3-6 months, they can try to play around to maximized profit, but now its only 1 month, dont think they got much room to maneuver. They will still make a profit from machine price, so no reason for them to refuse.