COE Bidding – 2nd Round of June 2017

[Vinceng]

Latest insight is the Private Hire gang are not placing bids this round. Sentiments are expected to be weak for cat A.

 

If only I could guess 4D winning numbers 

 

For Cat A, the 2,302nd person (last person to place bid) who bidded at 3:59:45 raised prices by an alarming $800 from $42,001 to $42,801 just 15 secs before bids closed.

[Tsr729]

If only I could guess 4D winning numbers 

 

For Cat A, the 2,302nd person (last person to place bid) who bidded at 3:59:45 raised prices by an alarming $800 from $42,001 to $42,801 just 15 secs before bids closed.

 

 

That bugger made me lost $800 worth of rebate

[Invigorated]

Real demand will come in after school holidays.

Based on historical records, don't seem to have a link between coe and school holidays. Do Buyers go on holidays for 30 days? In fact in some years, coe actually went down after the holidays, do check the charts.

 

I'm curious as to whether bids do go down after buyers have rushed in to buy cars before Hari Raya though.

[Nhyone]

iirc, around 20 - 25% of the COEs went to renewals in 2016.

It's worse than you think.

 

Of the 107,529 cars in the cohort, 28,820 were extended. That works out to be 26.8%. Most of them should be for 5-year COE, though, so there will be bumper crop in 2021.

 

The figure was 13.0% in 2015.

 

If COE is low, people tend to buy new car, not renew COE.

[Victor68]

Real demand will come in after school holidays. 

 

How many buyers actually do their own bidding that require them to be around to bid live during school holidays? If you look at cat a alone, the bid was $1 all the way till almost 3.50 pm before it starts to move for  >$10k and so on. This is definitely not the work of individuals. This COE bidding system is simply flawed and is kept that way for economic reasons.

 

It will be interesting to see if there are new 'scheme' thrown in by the authorities, otherwise it will remains weak till we hear more good news.

[Karoon]

I'm one of those 'unfortunate' ones. Coe expiring in sep and willing to drive till scrap but massive breakdown made me change earlier. Only in sg is buying car like a gamble, with the 'loss' at 5 figures. Well... At least i bought the last car at 15k coe so i can comfort myself on the averaging down.... Lol

[Hosaybo]

How many buyers actually do their own bidding that require them to be around to bid live during school holidays? If you look at cat a alone, the bid was $1 all the way till almost 3.50 pm before it starts to move for >$10k and so on. This is definitely not the work of individuals. This COE bidding system is simply flawed and is kept that way for economic reasons.

 

It will be interesting to see if there are new 'scheme' thrown in by the authorities, otherwise it will remains weak till we hear more good news.

The only good news I heard recently is COE is going south. Other than that, all bad news. :)

[Heman75]

The only good news I heard recently is COE is going south. Other than that, all bad news. :)

COE going south is also bad news. meaning economy not doing well and many jobs maybe gone. 

[DACH]

How many buyers actually do their own bidding that require them to be around to bid live during school holidays? If you look at cat a alone, the bid was $1 all the way till almost 3.50 pm before it starts to move for >$10k and so on. This is definitely not the work of individuals. This COE bidding system is simply flawed and is kept that way for economic reasons.

 

It will be interesting to see if there are new 'scheme' thrown in by the authorities, otherwise it will remains weak till we hear more good news.

Probably dealers are waiting for private hires to come in first. But seems private hires are not bidding much these few weeks. So when there is no biddings from this time round, dealers go in at the late hours.

I think school holidays do play a part. I have colleagues who go for 2 weeks leave this month. Before holidaying, need to clear work, prepare for the tour and make sure the kids finish their holiday assignments. Where got time to see cars?

You noticed the streets are quieter during this month too.

 

Also the continuing slowing economy plays a part too.

COE going south is also bad news. meaning economy not doing well and many jobs maybe gone.

And probably taxes going to rise because not enough income for the govt.

[Heman75]

 

Also the continuing slowing economy plays a part too.

And probably taxes going to rise because not enough income for the govt.

Then lets pray together for higher COE.  

[Showster]

Private hire companies also watch their costs.

 

When the price is right, they will come in again.

[Sdf4786k]

42k still did not meet my expectation. The economy is quite uncertain now hence a 2.4k drop still does not appeal to me to commit a substantial of money in.. will be throwing my COE in coming August when my car is due for scrape. Uber/Grab provides more freedom anytime of the day now and takes away all the cumbersome matters of car ownership (not just the price). Finding parking, car servicing, ERP, Insurance, road tax, summons, accidents etc...seriously..uber/grab pick and drop and leave the problems to others =) 

 

I feel that the economy is very certain now.

 

Going sideway up or down 1% out of 1.5% forecasted

 

..

[gshocker]

With COE going south, it remains to be seen whether dealers will lower their prices. Last I check when coe was 45k, the price for my ride was only 1k cheaper. But my COE during then was 52k.

[Count-Bracula]

Once Cat A PQP goes to < $45k, would there be a surge in renewals ?

I'm on the diving platform now . . . . . COE drop timing is almost perfect . . . . mine's expiring Oct 2017  

[DACH]

Then lets pray together for higher COE.

I rather pray for bigger COE quotas.

[Dafansu]

With COE going south, it remains to be seen whether dealers will lower their prices. Last I check when coe was 45k, the price for my ride was only 1k cheaper. But my COE during then was 52k.

 

It's not a direct comparison, there are few factors they will play with, interest rates, freebies, warranty period etc. Generally pricing for cars is on a down trend. When my Coe expired in Dec 2014, I think a Vezel cost about $120k if i'm not wrong. Now u can get for about 95k. 

[Heman75]

I rather pray for bigger COE quotas.

bigger quota means more car on road means for jam and hard time find parking.. no no no..

[Blueray]

It's worse than you think.

 

Of the 107,529 cars in the cohort, 28,820 were extended. That works out to be 26.8%. Most of them should be for 5-year COE, though, so there will be bumper crop in 2021.

 

The figure was 13.0% in 2015.

 

If COE is low, people tend to buy new car, not renew COE.

 

Yes, I had a look at the numbers and I think around 85% are 5-year renewals.

 

These cannot be further extended so will go back to the quota numbers.

 

My guess is once PQP < current COE price, a fair number of renewals will take place. 

Edited June 22, 2017 by Blueray