Latest Feb 2015 COE $5,540 that made the lower and middle income suffer more!

[safeins]

Heard ppl travel from west to east to work takes 4hrs in total to travel in our small country! They take shuttle bus to mrt to another mrt and shuttle bus to final destination! These ppl not only work stress, travel also stress if MRT breakdown suddenly then their routine is mess up! 4 hrs can drive to KL already!

[kzone]

Heard ppl travel from west to east to work takes 4hrs in total to travel in our small country! They take shuttle bus to mrt to another mrt and shuttle bus to final destination! These ppl not only work stress, travel also stress if MRT breakdown suddenly then their routine is mess up! 4 hrs can drive to KL already!

 

aww... poor thing. Shall we raise funds for these ppl to buy them a bike or car? or maybe might as well we buy them a home near their work place?

[honda5583]

Actually I dun quite understand how this COE bidding system works, anyone working in LTA to explain it?

 

To me, it is not so transparent. All we see in the live bidding system are figures only.

Whether there are so many bidders that bid for the COE, nobody knows.

Whether the bidding amount is really bid by bidders, nobody knows.

[honda5583]

From what I understand, the COE price will be $1 for today and tue for sure.

 

On Wed maybe the last few minutes before bidding ends, it will jump to $6k+++.

 

Isn't it weird? Or maybe I dun understand how the system works.

[kzone]

Same like eBay or any kind of auction...

[honda5583]

So for today and tmr, the COE price ($1) is for us to see and shiock.

 

After feeling shiock for two days............

 

The final bidding price come out on Wed, all of us will shock instead of shiock.

[Ni3KiDz]

This is call bidding. All start from Rock bottom not to make u shiok or what.

If no one bid it will stay at the last highest.

Like someone mention here, this is just like eBay so all the action is alway last min. All trying to outbid to get the Coe.

Maybe u can try some ebay auction, u will know how it work liao.

It cannot dun start from $1 if not u will complain why got min starting price.

[honda5583]

This is call bidding. All start from Rock bottom not to make u shiok or what.

If no one bid it will stay at the last highest.

Like someone mention here, this is just like eBay so all the action is alway last min. All trying to outbid to get the Coe.

Maybe u can try some ebay auction, u will know how it work liao.

 

This current bidding quota for bike is 355. It means 355 COEs will be given right.

If the number of bidders is 370, maybe 90% of the bidders will get the COE right.

I dun understand why is it a need to bid until $6k if 90% of the bidders will get the COE.

 

Unlike cars, we can see the bidding amount slowly rises from hundreds to thousands.

[honda5583]

Since bidding is always last min, den I dun see the need of having 3 days period bidding exercise.

 

1 day bidding exercise will do. All dealers will bid on that day and finish it.

[honda5583]

If there are 5 bidders for bike and the amount is $1.

 

There are really 5 bidders bid for $1 for the COE? Is it how the system will show?

 

IMO, why waste time to bid for $1 when u and me knows that it will never secure a COE for just $1.

[Ni3KiDz]

One day is too rush as bidding is for ppl to bid and got time to counterbid. Not all are dealer. Dealer got time to monitor but for private bidder?? Cannot think just from your point of view. Need to see the whole picture.

Also if u see the the price u bid is lower than then current highest how u sure u will get the Coe?? The only way to confirm is to bid higher and get the Coe..

[kzone]

honda5583, no one bids for $1.

The final coe will be $1 only if the number of bidders is lesser than the quota.

Having said that, if there are 100 COEs available and 99 bidders so far with bids ranging from $100 to $10,000 u will still see the COE amount in the live bidding as $1.

The moment the number of bidders goes beyond the number of COE available, that's when the COE amount will jump fast regarless of COE Category, this only happens in the last hour or so. For bikes, usually last 15 mins.

[honda5583]

One day is too rush as bidding is for ppl to bid and got time to counterbid. Not all are dealer. Dealer got time to monitor but for private bidder?? Cannot think just from your point of view. Need to see the whole picture.

Also if u see the the price u bid is lower than then current highest how u sure u will get the Coe?? The only way to confirm is to bid higher and get the Coe..

 

To me, there is nothing to monitor also.

The COE price for today and tmr will most likely to be $1.

[honda5583]

honda5583, no one bids for $1.

The final coe will be $1 only if the number of bidders is lesser than the quota.

Having said that, if there are 100 COEs available and 99 bidders so far with bids ranging from $100 to $10,000 u will still see the COE amount in the live bidding as $1.

The moment the number of bidders goes beyond the number of COE available, that's when the COE amount will jump fast regarless of COE Category, this only happens in the last hour or so. For bikes, usually last 15 mins.

 

I got it now. Thanks

[honda5583]

That means the lesser the numbers of bids, the better it is.

Nobody will know the highest price becoz the system will show $1.

[kzone]

That means the lesser the numbers of bids, the better it is.

Nobody will know the highest price becoz the system will show $1.

 

 

no need to know bro... just bid double the last COE results, you will get ur COE. no need to waste time monitoring. wat bike u getting?

[hachi]

Drop please............

[kaiq]

Market already spoilt, the balance is already gone. Price won't drop unless a drastic change happened.

 

Doubt a quota increase now is going to bring down anything.

[bikebike59]

May i know what are the options available for bikes with COE expiring soon?

 

Change new bike? Buy Old Bike? Renew COE?

 

Someone please analyse and tell me which one is the best choice.

 

My income is about $1800 a month. Have some savings in the bank. What should i do?

[MR BIKER]

May i know what are the options available for bikes with COE expiring soon?

 

Change new bike? Buy Old Bike? Renew COE?

 

Someone please analyse and tell me which one is the best choice.

 

My income is about $1800 a month. Have some savings in the bank. What should i do?

 

if bike is still in very good condition,for me if i were you, go to bank POSB or others. get personal loan. if you have say $2000 saving , great. get $4000 personal loan. take say 4 years. 5%/100 x 4000= 200 per year interest. say you want to settle 4 years. thats 200x4=800 (+4000)= 4800/48 = $100. bear in mind you paying interest 800 for 4 years and there will be administrative fee which is not really that alot .

at least its better than to buy bike from shop and having to pay high insurance.

my 2 cents thinking

[hachi]

May i know what are the options available for bikes with COE expiring soon?

 

Change new bike? Buy Old Bike? Renew COE?

 

Someone please analyse and tell me which one is the best choice.

 

My income is about $1800 a month. Have some savings in the bank. What should i do?

 

If you are riding small bike such as wave or spark, maybe good to look for 2nd hand. Those bike even repair also wont cost much. 6k should get you a decent one with few years left. But if your current bike is in very condition, just renew it. Even when COE plunges, just scrap and get back whatever amount and commit a new one. Coz the residual value is high with small bike and high COE.

However class 2 seem to be very good. Those left 1-2 years, there are gems around. Saw one 1098S, quite reasonable. I am also contemplating whether to renew or scrap my GSXR600K7 when the time comes. Very new and low mileage.

If 2k I sure renew as there is not much development for 600cc for the past decade already. What I have today is enough to take on the latest models.

[kaiq]

There is a 4th option - quit riding.

 

But if you choose to ride and current bike has no problem now and near future, I would choose to renew COE using my savings first. Use as much of the savings before considering loans. After all, interest gained from banks are lower than interest paid to loan.

[FireGunz]

if bike is still in very good condition,for me if i were you, go to bank POSB or others. get personal loan. if you have say $2000 saving , great. get $4000 personal loan. take say 4 years. 5%/100 x 4000= 200 per year interest. say you want to settle 4 years. thats 200x4=800 (+4000)= 4800/48 = $100. bear in mind you paying interest 800 for 4 years and there will be administrative fee which is not really that alot .

at least its better than to buy bike from shop and having to pay high insurance.

my 2 cents thinking

That is a good advise & suggestions. Thank for sharing the value info.

 

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[FireGunz]

If you are riding small bike such as wave or spark, maybe good to look for 2nd hand. Those bike even repair also wont cost much. 6k should get you a decent one with few years left. But if your current bike is in very condition, just renew it. Even when COE plunges, just scrap and get back whatever amount and commit a new one. Coz the residual value is high with small bike and high COE.

However class 2 seem to be very good. Those left 1-2 years, there are gems around. Saw one 1098S, quite reasonable. I am also contemplating whether to renew or scrap my GSXR600K7 when the time comes. Very new and low mileage.

If 2k I sure renew as there is not much development for 600cc for the past decade already. What I have today is enough to take on the latest models.

Hi hachi Or any senior biker, where will you do the scrap the bike? can share more info about if going to scrap the bike where to go will be the best? Base on your views.

 

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[aimnfire]

If im not mistaken. There is also a reserved price when you do the bidding.

 

For example at the start, i put my reserve bid as $5000. Once if it exceed the quota, my reserve price will be activate. Not sure how it work but here my theory.

 

For example there are 5 quota

1st bidder put in reserve price as $3000

2nd bidder put in reserve price as $500

3rd bidder put in reserve price as $1000

4th bidder put in reserve price as $200

5th bidder put in reserve price as $10,000

Now since the bidder and quota match it will be still $1.

The 6th bidder comes in and upset the system. He put in reserve price of $1500 and it trigger the coe to jump to $201 as the lowest reserve price is $200 and kick out 4th bidder. Now 4th bidder piss off and rebid but this time round instead of putting in reserve price he bid $3500 straight away thus new coe become $3500 and kick out 2nd bidder.

2nd bidder not happy comes in with reserve price of $5500 and coe will become $3501 if no others bid back at the same time kick out 3rd bidder.

Well thats my theory. On who set high reserve price, you can guess at your own imagination