Jump to content

Bid COE yourself - I tried it!


Boringchap
 Share

Recommended Posts

Anybody tried before?  I just tried this evening.  Yeah.  Try for fun, see whether can get or not.  How much did I bid for?  Check out this video for the experience.  

 

 

Take note, once you bid, the deposit is $10,000.  The non-refundable fee is $2.  If I get the COE, I will have 6 months to register the car.  LTA only collects the rest of the COE when I register the car.  Sounds cool to me. 

↡ Advertisement
  • Praise 18
Link to post
Share on other sites

Anybody tried before?  I just tried this evening.  Yeah.  Try for fun, see whether can get or not.  How much did I bid for?  Check out this video for the experience.  

 

 

Take note, once you bid, the deposit is $10,000.  The non-refundable fee is $2.  If I get the COE, I will have 6 months to register the car.  LTA only collects the rest of the COE when I register the car.  Sounds cool to me. 

 

...and $2 flies away.

  • Praise 1
Link to post
Share on other sites

Anybody tried before? I just tried this evening. Yeah. Try for fun, see whether can get or not. How much did I bid for? Check out this video for the experience.

 

 

Take note, once you bid, the deposit is $10,000. The non-refundable fee is $2. If I get the COE, I will have 6 months to register the car. LTA only collects the rest of the COE when I register the car. Sounds cool to me.

Need to pay up full coe price when collect car ?
  • Praise 4
Link to post
Share on other sites

Is it true that if you bid your own coe, some AD will be very hostile when you want to buy a car from them or won't even entertain at all?

Link to post
Share on other sites

Is it true that if you bid your own coe, some AD will be very hostile when you want to buy a car from them or won't even entertain at all?

Hostile for what. But a lot less freebies and crap prices.
  • Praise 1
Link to post
Share on other sites

Is it true that if you bid your own coe, some AD will be very hostile when you want to buy a car from them or won't even entertain at all?

 

Don't know.  I try already then let you know.  But I got to get the COE first. 

interesting, has anyone actually won bidding 2$?

 

Not me.  I did not bid $2.  Don't be misled by the earlier forum post. 

Link to post
Share on other sites

Supercharged

does it mean that every bids received would generate into the number of bids and it eventually

driving up the COE final price if one was doing it just for fun? or just trying to win a $1 COE?

 

correct me if i am wrong.

 

Link to post
Share on other sites

Don't know. I try already then let you know. But I got to get the COE first.

 

 

Not me. I did not bid $2. Don't be misled by the earlier forum post.

Thanks for sharing, looks like quite a hasslefree process [thumbsup]

Link to post
Share on other sites

Thanks for sharing, looks like quite a hasslefree process [thumbsup]

 

Yes, looks easy.  But only DBS ATM.  I think other bank ATMs cannot.  Got to check LTA website to see. 

Link to post
Share on other sites

Yes, looks easy. But only DBS ATM. I think other bank ATMs cannot. Got to check LTA website to see.

Heard b4 some AD dont want to deal if u bid coe on ur own

 

If u manage to get, see if buying car works

Link to post
Share on other sites

does it mean that every bids received would generate into the number of bids and it eventually

driving up the COE final price if one was doing it just for fun? or just trying to win a $1 COE?

 

correct me if i am wrong.

Have to look at the COE bidding process: http://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/owning-a-vehicle/vehicle-quota-system/certificate-of-entitlement-coe.html

 

In some way, the number of bids may contribute to raising the COE price. For example, if there are 100 COE quota, but there are 101 bids. If 100 people bid $1 but 1 person bid $2, the final price will be $2 and only 1 person will get it. But if 100 people bid $50000, then the last guy will have to bid $50001 in order to get the COE.

 

I hope I understood the bidding process correctly. However, this scenario is almost impossible to happen.

Link to post
Share on other sites

(edited)

Heard b4 some AD dont want to deal if u bid coe on ur own

 

If u manage to get, see if buying car works

 

yeah, will let you know.   [laugh]

Have to look at the COE bidding process: http://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/owning-a-vehicle/vehicle-quota-system/certificate-of-entitlement-coe.html

 

In some way, the number of bids may contribute to raising the COE price. For example, if there are 100 COE quota, but there are 101 bids. If 100 people bid $1 but 1 person bid $2, the final price will be $2 and only 1 person will get it. But if 100 people bid $50000, then the last guy will have to bid $50001 in order to get the COE.

 

I hope I understood the bidding process correctly. However, this scenario is almost impossible to happen.

 

The most important point for me is that if the final COE price is above my reserve price, it means that I won't get the COE.

 

So the reserve price I put in is the max that I will pay for the COE, for this round of bidding.  If the final price goes above my reserve price, it means no COE for me lor. 

 

My friend told me that all the bidding action is usually the last hour, or even last 30 minutes.  So don't have to keep monitoring the website.  Apparently, the bidders all go in at the last minute to bid one. 

Edited by Boringchap
Link to post
Share on other sites

Turbocharged

Cat A COE dropped almost 10k last exercise . Now 45k .

 

TS bidded around 39k . If Cat A COE drops another 6k or more , he would have gotten his COE .

 

Maybe not possible this exercise , but will be a realistic bid in the coming months .

Link to post
Share on other sites

Cat A COE dropped almost 10k last exercise . Now 45k .

 

TS bidded around 39k . If Cat A COE drops another 6k or more , he would have gotten his COE .

 

Maybe not possible this exercise , but will be a realistic bid in the coming months .

 

May be a realistic bid some time in 2016, but unlikely to be this one. Many people have already jumped in at this opportunity, as shown by some dealers who have raised their prices. Expecting a short term rebound...

↡ Advertisement
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...