AD bidding practice is dubious - someone pls explain?

[Raptor22]

 

I too think that the pay as you bid will result in lower COE pricing. But if they say it will result in higher pricing, just put it forth to LTA and say that it's a better deal for LTA. See what other idiotic excuses they come up with.

 

And what I would suggest is closed bidding.

 

If got 3 COE for sale, 5 people can bid what they want, maybe 10K, 20K, 30K, 40K, 50K. So the top 3 win, and the COE that the three winners have to pay is 30K, 40K and 50K, in terms of what they bidded. Like tender documents, submit one time, no need $1 increment. Block AD from bidding, all is self do.

 

I think COE wouldn't be as high...

 

I agree.

And though they paid $50K, $40k & $30K, their COE should still reflect the PQP (ie $30k). So whatever pro-rata scrap value will be based on the $30k PQP.

 

AD can bid on clients behalf with their written permission on paper. So if the client sitting on the high pedestal can pay the price for convenience. I doubt they would sign such a paper (maybe up to a certain limit perhaps).

 

COE will eventually be more realistic.

No one wants to pay more than the other.

 

[Hydrocarbon]

I agree.

And though they paid $50K, $40k & $30K, their COE should still reflect the PQP (ie $30k). So whatever pro-rata scrap value will be based on the $30k PQP.

 

AD can bid on clients behalf with their written permission on paper. So if the client sitting on the high pedestal can pay the price for convenience. I doubt they would sign such a paper (maybe up to a certain limit perhaps).

 

COE will eventually be more realistic.

No one wants to pay more than the other.

 

Haha, a lot of people would be pissed at the PQP at 30K if they bidded 40 or even more... But I like the idea too!

 

Though, I think the AD bidding, in a sense it does push up the COE because now, loan can be taken against the paper value. People would be more prudent if they had to fork out hard cash for COE.

[Voodooman]

if u didn't spout so much confusing nonsense, i wun need to explain the obvious.

 

is it ur England so bad or just trolling? anyway, wun be wasting my keystrokes anymore.

Have you bought a new car in recent years?

 

If you don't understand, just clarify (in a forum, we tend to write too little at times and make certain assumptions (ie. readers and contributors are experienced and experts in this field) that may not be entirely correct) and if you think it is too much trouble to do that, just ignore lah. There is no need to offer the obvious and make the assumption that I am trolling. Maybe my England is really bad but I am happy to write more if you have constructive view to share.

 

I just bought a new car recently and there is no T&C on COE bidding, the sales contract just stated "guaranteed 6 bids with COE rebate at $Y". $Y was the prevailing COE price then. I asked my SE if it is possible that AD will not bid for me during certain bidding exercise. By your legal definition, if they don't secure the COE, the COE rebate at $Y will not apply. In that case, what is the point of having a high COE rebate when contractually the AD is not even obliged to bid during the next bidding exercise. The sales contract also never say all 6 bids will be made in the next 3 months, consecutively. I doubt anyone has an answer but it is an interesting observation and more should be done to protect buyers.

 

Of course I didn't need to sue anyone as my AD secured for me the COE on next bidding exercise after I signed on the dotted line and as expected, I did not get any COE rebate.

Edited May 31, 2015 by Voodooman