COE Bidding 1st - Mar 2013

[13177]

SINGAPORE: Transport Minister Lui Tuck Yew on Wednesday in Parliament said the government will not be making major changes to the Certificate of Entitlement (COE) market in the near-term

 

http://www.channelnewsasia.com/stories/sin...1259650/1/.html

 

According the latest reports . I think those who wish to own - VERY CHALLENGING!!!!!!!!!

You mean they still find the current COE system good?!

[Pss2]

SINGAPORE: Transport Minister Lui Tuck Yew on Wednesday in Parliament said the government will not be making major changes to the Certificate of Entitlement (COE) market in the near-term

 

http://www.channelnewsasia.com/stories/sin...1259650/1/.html

 

According the latest reports . I think those who wish to own - VERY CHALLENGING!!!!!!!!!

 

Most people don't own the cars. It's the bank who own them as long as you are servicing the loan. New Car Buyers are able to own their cars at least for 5 years from now onwards. I am considered lucky to own the car for 3 years as long as I drive it for 10 years. 2 more years to go.

[Avatar7]

Our dear Transport Minister own words

 

Mr Lui said Singapore's bidding system is by no means perfect, but it is preferable to a balloting system as seen in other cities like Beijing.

 

 

Mr Lui said: "As there have recently been major changes that affect vehicle ownership, I think it is best that we let them take time to settle. We have not even seen the outcome of the first COE bidding exercise after the implementation of the progressive ARF and loan restriction measures. And it will take a number of bidding exercises before the effects of the recent changes become clear. Therefore, we should take some time to carefully consider the many suggestions we have received from MPs and the public before we make further changes to the COE system."

 

[Wt_know]

that's why i suggest close bidding

you submit $90k and pay $90k when successful bided. if customer is buying 7-series with sibei huge margin can put in a bid $100K the boa jiak one ...

you put in a bid $10K (ie: min bid) and if kena ... then $10K min bid ... that's why all the fake bid 1,001 5,001 10,001 with extra $1 ... for what ... for show to drive up the next bid

open bidding is a way to drive up coe price which is like chasing stock in sti when you see the counter creeping up ... sibei euphoria

 

Nope, if they bid one by one by small quantums so at first say they put $1,000. So they got to key in 200 times of $1,000. Then after outbid, try $10,000. So key in another 200 times, then again at $30,000, $40,000, etc etc....so in the end at least 1,000 times. Then during the dying minutes, how to key in 200 times? They will need at least, say 40 people to key in, each one take 5 buyers.

Edited March 13, 2013 by Wt_know

[Mllcg]

that's why i suggest close bidding

you submit $90k and pay $90k when successful bided. if customer is buying 7-series with sibei huge margin can put in a bid $100K the boa jiak one ...

open bidding is a way to drive up coe price which is like chasing stock in sti when you see the counter creeping up ... sibei euphoria

 

that way, how to know if u bid enough or not for that particular bidding session?

 

imagine the lowest bid is 42k. u bid 41999 and dont get it. if u had known the lowest was 42k, u would bind 42500 or sth

[Wt_know]

then another will bid $43,000

then another will bid $45,000

do you still get what you want?

then you bid $46,000 ... another bid $50,000 .... so how?

 

in close bidding, let's say you bid $42,500 ... you got it

then the result publish ... lowest bid is $20,000 and median bid is $30,000

so do you think will people anyhow hantam $42,500 especially with pay as you bid?

 

in open bidding the lowest bid is the highest bid (because bid $100K also pay $90k nia) ... ie: $90K set the floor price which means minimum $90K

in close bidding the lowest bid is the lowest bid and anyone will tikam tikam the lowest bid ...

 

that way, how to know if u bid enough or not for that particular bidding session?

 

imagine the lowest bid is 42k. u bid 41999 and dont get it. if u had known the lowest was 42k, u would bind 42500 or sth

Edited March 13, 2013 by Wt_know

[Antlau]

Close bidding (machiam like tendering for contract) together with bidding done only by ownself, will be a better way. You bid according to how much you can afford. You get it with a low bid, you are lucky. You dont get it with a low bid, then it means it is just not for you at the moment, simple.

Edited March 13, 2013 by Antlau

[Sk65]

my take is half of them $10 or $1

 

 

now that i see that bids a lot

$$ not a lot

 

i agree with you.

[XorcismX]

seems like the big boys are coming in

[Avatar7]

Dun know if anyone suggest this before....

 

Car buyer bid for COE only, AD or car sellers cannot bid.

 

Curious!

[Duckduck]

seems like the big boys are coming in

 

bb waiting last min strike then competitors cant react in time then no sales for them! lol

[Pss2]

Dun know if anyone suggest this before....

 

Car buyer bid for COE only, AD or car sellers cannot bid.

 

Curious!

 

Plus, if they want us to deposit 50% and pay within 5 years loan, we still pay for COE provided that the car is for us to own forever.

[Carnoob]

Dun know if anyone suggest this before....

 

Car buyer bid for COE only, AD or car sellers cannot bid.

 

Curious!

 

yes, done that

[Steptronic]

Do you recommend something like bidding for registration numbers?

 

if so, I would say it will be pathetic. This type of bidding will help those agents who know how much to bid for a number and rest all cluelessy bid either too low or too high (not just right amount).

 

Personally I agree that bidding should be given to individuals (not ADs). But again the present open bidding is to be followed. If I have a muscle, I fight it out till end if not just quit in between leaving others to continue.

 

 

 

then another will bid $43,000

then another will bid $45,000

do you still get what you want?

then you bid $46,000 ... another bid $50,000 .... so how?

 

in close bidding, let's say you bid $42,500 ... you got it

then the result publish ... lowest bid is $20,000 and median bid is $30,000

so do you think will people anyhow hantam $42,500 especially with pay as you bid?

 

in open bidding the lowest bid is the highest bid (because bid $100K also pay $90k nia) ... ie: $90K set the floor price which means minimum $90K

in close bidding the lowest bid is the lowest bid and anyone will tikam tikam the lowest bid ...

[Deckbuild]

Can't believe it at 250pm 781 bids receive for CAT A but the bids so low!

 

 

[Duckduck]

Can't believe it at 250pm 781 bids receive for CAT A but the bids so low!

 

must b all the uncles hoping to strike cheap coe then renew their laupokchia lah. ADs no action yet lor imo

[XorcismX]

20k deadlock broken for both categories

 

GONG XI FA CAI!

[Deckbuild]

must b all the uncles hoping to strike cheap coe then renew their laupokchia lah. ADs no action yet lor imo

 

I don't think so, the new measure really hit everyone, even AD won't want to sabo themselves...

 

Imagine it goes high, mass market still can't afford the 40% or 50% DP, also no sales mah.