COE Bidding – 2nd Round of August 2019

[Irene1234]

Cat A: First bid failed because COE went up by 6K, however I was told by Agent I will get the COE in the Second bid if it stayed the same - 32K or below. Today (21/8/19) when I checked and found out my bid was out bid, Agent changed his word and said he don't know the reasons why it was out bid. This is my first purchased, please advice. Thank you.

[Contented]

Agent just sales.. their boss is the one who decide how much to bid or not to bid... I believe you got 6 bid with them right? Usually more people got their coe when coe drop then coe up...

[subzero17]

Cat A: First bid failed because COE went up by 6K, however I was told by Agent I will get the COE in the Second bid if it stayed the same - 32K or below. Today (21/8/19) when I checked and found out my bid was out bid, Agent changed his word and said he don't know the reasons why it was out bid. This is my first purchased, please advice. Thank you.

Hi Irene, do share about what's the COE package you signed for and when is the promised delivery date of the car. How many bids and if it's a guaranteed COE pacakge.

[icez118]

Cat A: First bid failed because COE went up by 6K, however I was told by Agent I will get the COE in the Second bid if it stayed the same - 32K or below. Today (21/8/19) when I checked and found out my bid was out bid, Agent changed his word and said he don't know the reasons why it was out bid. This is my first purchased, please advice. Thank you.

Which make?

I feel otherwise. Cat A $26k-$30K, Cat B $30k-$35K.

Me too. Waiting patiently.

[RogerNg_185295]

this is why, my friend, analysis cannot be trusted

 

most people, including myself, talk until got dragon got phoenix, but in the end the results differ

 

same goes for those stock analysts

Well, after so many pages, those so called analysis are back again. Makes for interesting reads when one is bored.

[awhtc]

So what i learnt this week: 1k unsuccessful bids from last rd may not effect COE prices if AD showroom is ghost town...

 

In spite of backlog the obvious problem is no new orders = no order buildup = AD need to let prices come down to restart the cycle

 

If you monitor the live bidding, the car dealers were cautious in increasing their bids.  Hence, there was less panic bidding and that resulted in not much changes in COE prices even though the bids came in very early.

 

Having a car now is not as stressful as one can still drive PHV to earn at least $2k even if one is laid off.  Therefore, the car buyers are likely to come back after the recent lull.

[Spring]

People like to say COE is controlled by the dealers.

 

Dealers sell more cars when COE is LOW.

 

When COE is low the profit margin is HIGHER.

 

So if dealers can really control the COE

 

They would make COE low.

 

Why on earth would dealers manipulate COE to be high?

 

 

People really talk nonsense when they say dealers

 

control the COE.

I also dont believe in this dealers control prices nonsense. All ADs want to sell cars, which AD wants to collaborate with a direct competitor.

 

In the 60s, pawnshop owners were doing a roaring trade till govt decided to issue licenses to control more sprouting out. The big players came together n had a gentleman’s agreement to bid the same amount so as to screw the authorities n pay low price for their license. When the results came out, it was to each his own. Almost none kept to their so called gentleman’s agreement to bid low.

 

It’s a dog eat dog World out there. Best man wins simple as that. I’m not going to collaborate with my competitor for sure. Big ADs may spread out their bids to avoid high fluctuations in prices, that can n is being done but to say control price is far fetched.....

[RogerNg_185295]

I also dont believe in this dealers control prices nonsense. All ADs want to sell cars, which AD wants to collaborate with a direct competitor.

 

In the 60s, pawnshop owners were doing a roaring trade till govt decided to issue licenses to control more sprouting out. The big players came together n had a gentlemanâs agreement to bid the same amount so as to screw the authorities n pay low price for their license. When the results came out, it was to each his own. Almost none kept to their so called gentlemanâs agreement to bid low.

 

Itâs a dog eat dog World out there. Best man wins simple as that. Iâm not going to collaborate with my competitor for sure. Big ADs may spread out their bids to avoid high fluctuations in prices, that can n is being done but to say control price is far fetched.....

Its all about basic supply and demand. Its very simple economic theory. People distort facts here and there, to the extent of saying dealers control Coe price, which is absolutely incorrect.

I also dont believe in this dealers control prices nonsense. All ADs want to sell cars, which AD wants to collaborate with a direct competitor.

 

In the 60s, pawnshop owners were doing a roaring trade till govt decided to issue licenses to control more sprouting out. The big players came together n had a gentlemanâs agreement to bid the same amount so as to screw the authorities n pay low price for their license. When the results came out, it was to each his own. Almost none kept to their so called gentlemanâs agreement to bid low.

 

Itâs a dog eat dog World out there. Best man wins simple as that. Iâm not going to collaborate with my competitor for sure. Big ADs may spread out their bids to avoid high fluctuations in prices, that can n is being done but to say control price is far fetched.....

Its all about basic supply and demand. Its very simple economic theory. People distort facts here and there, to the extent of saying dealers control Coe price, which is absolutely incorrect.

[Irene1234]

Yap, 6 bids - non guaranteed by Agent as in Agreement.  However, before each bid the sales person would let the buyers (like me) to know how much they are bidding for, therefore their "word of mouth" is as important as Agreement. Sales person represent their Company, their verbal agreement is as good as putting down in words, right? Correct me if I am wrong. Thank you.

[Jamesc]

Yap, 6 bids - non guaranteed by Agent as in Agreement. However, before each bid the sales person would let the buyers (like me) to know how much they are bidding for, therefore their "word of mouth" is as important as Agreement. Sales person represent their Company, their verbal agreement is as good as putting down in words, right? Correct me if I am wrong. Thank you.

You are wrong.

 

No chop sign guarantee no pakai.

 

This is legally speaking.

 

They bluff you means you may not buy from them again but they already have your money.

 

They don't care.

 

 

You complain also no point. Did you record the conversation?

 

No proof means your word against theirs.

[Jamesc]

Just tell the smooth talking salesman don't need to tell me you bid 32k.

 

After the bid is over just show me proof you submitted a bid of 32k.

 

Tell him talk is free.

 

 

Immoral of the story dun trust smooth talking salesman.

Edited August 22, 2019 by Jamesc

[Jamesc]

If agents not bidding is a very good sign.

 

It means they believe the next round COE will be lower and they make a bigger profit.

 

That means a very good chance you will get your car.

 

[boonhat_91]

Actually how did the invisible hand decide that Cat B premium > Cat A premium?

 

Since the quota for both Cat is very close, but bids received for Cat A is much more than bids for Cat B. That should indicate a higher demand for Cat A, and demand/supply dictates that Cat A price should be higher. My econs textbook say one.

[yishunite]

Actually how did the invisible hand decide that Cat B premium > Cat A premium?

 

Since the quota for both Cat is very close, but bids received for Cat A is much more than bids for Cat B. That should indicate a higher demand for Cat A, and demand/supply dictates that Cat A price should be higher. My econs textbook say one.

U never learn ceteris paribus?

 

Other things are not constant. For one the quota much smaller for B.

 

For another cat B cars usually have far bigger margin priced in. So they can afford for cat B bid higher coz competition to make the sale (no sale = zero commission, doesnt matter what margin) eats into the margin by forcing to be more aggressive on coe.

[Hotbod]

Cat A: First bid failed because COE went up by 6K, however I was told by Agent I will get the COE in the Second bid if it stayed the same - 32K or below. Today (21/8/19) when I checked and found out my bid was out bid, Agent changed his word and said he don't know the reasons why it was out bid. This is my first purchased, please advice. Thank you.

 

You can key in purchase IC number to see what's the reserve price the dealer bidded for you. 

 

Got bid is one thing.

 

Bid how much is another - it shows how sincere they are in trying to secure the coe for you.

[Rskeisuke]

I got my COE on the 2nd bid after failing during the 1st bid. My dealer only bidded at 26999.

 

This time round, I saw they bidded 27999 at about 1pm, so imagine my disappointment when i saw the COE price went beyond that way before the tender exercise closed. Surprisingly, when i logged in to check after the exercise, they actually revised my bid to 32999 at 1555hrs.

 

Mine was a 6 bid NG booking made when CAT A COE was at 26k.

[Jamesc]

I got my COE on the 2nd bid after failing during the 1st bid. My dealer only bidded at 26999.

 

This time round, I saw they bidded 27999 at about 1pm, so imagine my disappointment when i saw the COE price went beyond that way before the tender exercise closed. Surprisingly, when i logged in to check after the exercise, they actually revised my bid to 32999 at 1555hrs.

 

Mine was a 6 bid NG booking made when CAT A COE was at 26k.

You earn $6k extra

 

[Mann123]

You earn $6k extra

 

 

Correction:  Dealer earn $6K lower  

 

His car price still same.