COE - Feb 07 1st bidding exercise

[Ahyoo2002]

Hi all, COE bidding again:

 

The details of the February 2007 first open bidding exercise for Certificates of Entitlement (COEs) are as follows:

 

Tender opens: Thursday, 1 February 2007, 9.00 am

 

Tender closes: Friday, 2 February 2007, 4.00 pm

Tender results: Friday, 2 February 2007

(Available on the www.onemotoring.com.sg website)

 

The total quota available for this tender is 6,450 for the following vehicle categories:

 

NON-TRANSFERABLE CATEGORIES:

 

Category A : Cars (1,600cc and below) & taxis 2,673

 

Category B : Cars (1,601cc and above) 1,272

 

Category D : Motorcycles 536

 

TRANSFERABLE CATEGORIES:

 

Category C : Goods Vehicles and Buses 679

 

Category E : Open Category 1,290

 

For this time round:

1) Only 2 days of bidding as compare to normal 3 days

2) Number of Cat C COE available for bidding has increase compare to last round of bidding as the unused one all carried forward liao.

3) I think this is the last COE for those who need a car by CNY, although there is one more round of bidding before CNY but it is too close to CNY which make it difficult for car delivery before CNY.

 

So, anyone what to make a guess???

[Ahyoo2002]

Last round of result as a guide:

 

Bidding status as at 17/01/2007 16:00 hrs

Category Current COE Price ($) Quota Bids Received

A Car (1600cc & below) &Taxi 11,881 2,671 3,155

B Car (Above 1600 cc) 12,000 1,301 1,446

C Goods Vehicle & Bus 1 525 367

D Motorcycle 1,189 453 690

E Open 12,599 1,369 1,832

[Cheekg98]

my bet :

Cat A $11,688

Cat B $12,138

Cat E $12,588

[Ahyoo2002]

so many 888

 

My bet:

Cat A $11,588

Cat B $12,168

Cat E $12,688

[Ahyoo2002]

no one keen

 

Bidding status as at 01/02/2007 09:25:49.90 hrs

Category Current COE Price ($) Quota Bids Received

A Car (1600cc & below) &Taxi 1 2,673 1

B Car (Above 1600 cc) 1 1,272 0

C Goods Vehicle & Bus 1 679 50

D Motorcycle 1 536 0

E Open 1 1,290 0

 

Strong start for Cat C

Edited February 1, 2007 by Ahyoo2002

[Serene]

i'm lousy in predicting... just hope i can get my COE this time round so as to get my car b4 CNY... haha...

[Kiss29]

This round it will be very STRONG.

COE will crash the next round simply because it will not make it for the CNY registration.

So my guess ALL will increase.

 

A - S$12888

B - S$12588

C - S$1

D - S$1388

E - S$13068

[Picanto]

Perhaps Singapore Pools can make some $$ out of us if it allows us to predict the COE result?

[Char]

CAT A $12888

CAT B $13888

CAT C $88

CAT D $1388

CAT E $13888

 

All final bid should end with 8 ! CNY mah !!

Gong Xi Fa Cai !!!

[Ccssgm]

Tis COE......I Predict :

 

Cat A $12,388

Cat B $13,110

Cat E $13,288

 

[Ahyoo2002]

Good luck

[Ahyoo2002]

In fact for next round, it is still possible for delivery before CNY but the car dealers needs a very good logistic.

[Ahyoo2002]

Huat all the way but wish COE go downhill

Edited February 1, 2007 by Ahyoo2002

[Ahyoo2002]

Demand so good? All predict up

 

But at this time:

 

Bidding status as at 01/02/2007 13:10:32.11 hrs

Category Current COE Price ($) Quota Bids Received

A Car (1600cc & below) &Taxi 1 2,673 4

B Car (Above 1600 cc) 1 1,272 0

C Goods Vehicle & Bus 1 679 51

D Motorcycle 1 536 66

E Open 1 1,290 130

 

I hope car dealers know that this bidding exercise is only last for 2 days instead of 3 days.

[Kiss29]

car delears can have good logictics,

But with the hugh numbers of people taking leave and half days on fridays(16th & 17th).

Do you think the insurance company can issue insurance fast enough?

Do you think the licence plate people can make the plate in time?

Do you think LTA staff are sufficent to be quick enough?

Do you think the bank cheques clearing confirmation is good enough?

[Sgnick]

Hi ,me getting a OPC. If my intention is to drive the car for 10 years, can I conclude that the higher the COE the better for OPC? This is because of the $17K discount for OPC, first use to discount away COE, any remainder is to discount the OMV.

 

So if my car OMV is $16K

and

1)

COE = $11000

My OPC OMV will be: 16K - (17K - 11K) = 10K

2)

and if COE = $13000

My OPC OMV will be: 16K - (17K - 13K) = 12K

 

So higher COE is better for OPC. Does my calculation make sense????

Edited February 1, 2007 by Sgnick

[Ahyoo2002]

Point noted.

 

In fact I am wonder why the needs to bring forward the bidding in Feb to make it before CNY or before budget annoucement on 15 Feb, any agenda behind this

[Kiss29]

I strongly suspect that there will be a BIG COE announcement at the budget! If not there is no reason why the need to push it forward for this month.

 

The LTA has gone FAST forward to push thru the all day bus lane, they have hired experts to review the public transports.

The gov has declared that they are all out to make public transport easy for everyone. ERP has crept up to $4 now.

The gov has since last year said that they want car to be affordable and everyone to own them. (Just like when LKY says he want everyone to own their pigeon hole, and get stuck in high debt)

News report already showed that off-peak cars has doubled over the last three years due to the 'failure' of the COE system.

The recent hoo-haa about the goods vehicle COE remaining at $1 due to LTA strange rule.

All these news we read since this year are in support for reducing the ARF and COE scheme eventually.

With the expected increase number of PR/Citizens and FT in 2008.....the demand for cars cannot be controlled by COE alone. EVERY FT will want a car. Every rich man will want a car. The only way is to abolish COE and charge for road uses!

I forsee many off-peak car owners will be driving their cars to the Casino at night, chocking up Marina area!

 

As everyone knows that recent car buyers(one-three years old car) many of them are in negative equity. Cannot sell car until the breakeven 7th year or more.

If the 2007 COE quota were to be reduced, then the COE price will surely increase. Making the negativ equity owners even more Reluctant/impossible to change car. This vicicous circle will then cause 2007-8 car deregistration to be drastically reduced. Then the 2008 COE quota will be reduced further, driving up COE price even more. There will come a time where the COE system will crash.

 

So I predict LHL will announce the phase out of COE and ARF by 2010 during his budget!

The tax income from COE has being drastically reduce these two years due to low COE price. I remember the last time I read, COE tax revenue is the second largest income source for the GOV. Therefore the 7% GST will somewhat compensate it.

There will be a three weeks look see window period for everyone to adsorbe the news and make the decision to buy car or not.