Question on COE

[Laworder17]

I have some doubts about the April 1st bidding of COE on CAT. Base on LTA provide figure.

 

Cat A Arpil 1st Bidding

Quota: 705

Sucessful Bids :597

Bids Received: 1379

 

Base on calculation CAT A unused, 705-597 = 108

There should be additional 108 unused COE for CAT A for 2nd Bid the the quota for the second bid still stands at 706.

Shouldn't it be 706+108=814 for the 2nd round April bid?

 

Above Data taken from ==> http://www.lta.gov.sg/corp_info/doc/COE_Result_2005_2010.pdf

 

 

Below is what i found out from LTA website on bidding and un-allocated COE Quota ==> http://www.lta.gov.sg/motoring_matters/index_motoring_vo.htm

 

To illustrate

 

2nd COE Open Bidding Exercise in the month (N)

COE Quota for Category A = 3

Number of bidders = 5 with reserve prices of $100, $88, $70, $70, $50 and $41

At the close of the bidding exercise, the bid status of each of the 5 bids will be as follows :

 

Reserve Price Bid Status Remarks

$100 Successful Only the first 2 bids will be successful. The latest COE Price (or Quota Premium) will be $71. Accepting the 3rd and 4th bids (both with reserve price of $70) will exceed the COE Quota of 3. The remaining 1 un-allocated COE Quota will be carried forward to the next corresponding COE bidding exercise in the following month (i.e. 2nd COE Open Bidding Exercise in month (N+1).

$88 Successful

$70 Unsuccessful

$70 Unsuccessful

$41 Unsuccessful

 

Find out how to submit a bid, enquire on the bid status and revise the reserve price, as well as the COE bid deposit amounts and administration fees for each bid submission and revision with this easy and simple-to-use system.

Edited April 22, 2010 by Laworder17

[Tonyhawk]

i think "following month" means its carried over to may first bidding?

[Siemens60]

unused quota from 1st bidding of N month will be carried forward to 1st bidding of N+1 month... likewise unused quota from 2nd bidding of N month will be carried forward to 2nd bidding of N+1 month...

[Skxly]

i think "following month" means its carried over to may first bidding?

I believe so too, based on looking at the past months' data.

 

So there are more than 108 bids at $34,000. I am amused that these "lucky" people pay much lesser in the subsequent April 2nd bid ... but then, they may have been asked to top up more than $10K.

 

See my blog post Lucky Bid Price on observations about putting in the right reserve price for the bid.

 

skxly