1994: The one and only time COEs hit S$100,000

[Ct3833]

14 minutes ago, Voodooman said:

So $100k COE is still cheap?  

Of course! So  quickly buy buy and $bye $bye.  But if can wait, 50k would be  even cheaper, for cheapo like me 🤣🤣

Edited April 9, 2022 by Ct3833

[Carbon82]

3 hours ago, Mkl22 said:

Last time on a $100 note was only a ship. Now $100 got Ah gong face! Of course different la! 

Translation:

The ship series $50 note, 1 piece can use many days

Yusof Ishak series, 1 day can use many pieces 

 

[Ody_2004]

15 minutes ago, Carbon82 said:

Translation:

The ship series $50 note, 1 piece can use many days

Yusof Ishak series, 1 day can use many pieces 

 

this is very true.. at least for me.. once $50 break into small notes SURE GONE in no time...

[Carbon82]

There were a total of 3 occasions in 1994 where COE premium hit >$100K:

• $102,002 (cat 4 - cars >2,000cc in Nov '94)
• $105,000 (cat 7 - "open" in Nov' 94)
• $110,500 (cat 4 cars >2,000cc in Dec '94)

And there were indeed a handful of people who make some $$$ out of the situation. My uncle was one of them, as he managed to upgrade (through changing a few rides) all the way from a Toyota Starlet 1.0 in 1989 to a Citroën Xantia 2.0 by early 1994 without having to fork out additional cash. He was lucky to sold it before COE normalised from Jan 1995.

Many are "happy" to see COE premium back to $100K level for whatever reasons (most likely they have bought a car in the past 2 years and is enjoying paper appreciation), but the unhealthy trend is going to cost us (car owner or not) a lot more in times to come. In the simplest way, each and everyone as well as industries need transportation right? 羊毛出在羊身上。

Your online purchase from Amazon, Lazada, Shopee, etc. can't be delivered on foot or bicycle right?

You need to take bus, taxi, PHV to work, outings, meeting friends, etc., nope? 

What about transportation of raw material to your neighbourhood market, hawker centre, supermarket, etc.?

The handy man who you engage to repair your plumbing and electrical system, electronic appliances are charging you for transportation, and the list goes on. 

[shrjun]

7 hours ago, Tianmo said:

Money today is no same as the money value 30 years ago. 

There is a thing call inflation.  

The population today is no same as that of 30 years ago.  

So there is a thing call supply and demand.  

Pls don't live in the present but dream of the past. 

 

Can u have inflation on something which doesn't exist in the real world 🤨

[Mustank]

Lorry already need 80/90k Liao 

Hong chia confirm need at least 130k above 

[Benarsenal]

6 hours ago, Carbon82 said:

There were a total of 3 occasions in 1994 where COE premium hit >$100K:

• $102,002 (cat 4 - cars >2,000cc in Nov '94)
• $105,000 (cat 7 - "open" in Nov' 94)
• $110,500 (cat 4 cars >2,000cc in Dec '94)

And there were indeed a handful of people who make some $$$ out of the situation. My uncle was one of them, as he managed to upgrade (through changing a few rides) all the way from a Toyota Starlet 1.0 in 1989 to a Citroën Xantia 2.0 by early 1994 without having to fork out additional cash. He was lucky to sold it before COE normalised from Jan 1995.

Many are "happy" to see COE premium back to $100K level for whatever reasons (most likely they have bought a car in the past 2 years and is enjoying paper appreciation), but the unhealthy trend is going to cost us (car owner or not) a lot more in times to come. In the simplest way, each and everyone as well as industries need transportation right? 羊毛出在羊身上。

Your online purchase from Amazon, Lazada, Shopee, etc. can't be delivered on foot or bicycle right?

You need to take bus, taxi, PHV to work, outings, meeting friends, etc., nope? 

What about transportation of raw material to your neighbourhood market, hawker centre, supermarket, etc.?

The handy man who you engage to repair your plumbing and electrical system, electronic appliances are charging you for transportation, and the list goes on. 

Exactly. We forget that Cat C Commercial Vehicle COE is now S$50k plus and motorbike COE over S$10k. These prices are surely unsustainable.

[Cheesey74]

8 hours ago, Benarsenal said:

Exactly. We forget that Cat C Commercial Vehicle COE is now S$50k plus and motorbike COE over S$10k. These prices are surely unsustainable.

I think motorbike coe price surge is mainly bcos those grab food delivery dudes just blindly bought their new bikes with GrabRental which is a very popular rent to own scheme, they dun care how much their bike cost n only look at their daily rental, u can see so many delivery dudes riding brand  FBT/FBU new bikes doing delivery, really make no sense considering the amount they earn vs the high coe they pay but well as long as they r happy i guess..

https://www.grab.com/sg/driver/transport/rentals/motorcycle-ownership-scheme/

[awhtc]

10 minutes ago, Cheesey74 said:

I think motorbike coe price surge is mainly bcos those grab food delivery dudes just blindly bought their new bikes with GrabRental which is a very popular rent to own scheme, they dun care how much their bike cost n only look at their daily rental, u can see so many delivery dudes riding brand  FBT/FBU new bikes doing delivery, really make no sense considering the amount they earn vs the high coe they pay but well as long as they r happy i guess..

https://www.grab.com/sg/driver/transport/rentals/motorcycle-ownership-scheme/

 

S'pore food delivery rider earns S$8,511 in March 2022 doing GrabFood, foodpanda & Deliveroo for 31 days

https://mothership.sg/2022/04/singapore-food-delivery-earn-8k/

[shrjun]

1 hour ago, awhtc said:

 

S'pore food delivery rider earns S$8,511 in March 2022 doing GrabFood, foodpanda & Deliveroo for 31 days

https://mothership.sg/2022/04/singapore-food-delivery-earn-8k/

read somewhere that these are  ' combined ' accounts of multiple riders doing shift jobs to maximise the platform bonuses

[Brass]

2 hours ago, Cheesey74 said:

I think motorbike coe price surge is mainly bcos those grab food delivery dudes just blindly bought their new bikes with GrabRental which is a very popular rent to own scheme, they dun care how much their bike cost n only look at their daily rental, u can see so many delivery dudes riding brand  FBT/FBU new bikes doing delivery, really make no sense considering the amount they earn vs the high coe they pay but well as long as they r happy i guess..

https://www.grab.com/sg/driver/transport/rentals/motorcycle-ownership-scheme/

The rental looks cheap but if you multiply it by 10 years you could have gotten an Attrage with that amount in 2019/2020.

Granted, maintainence is included but I doubt a 2B bike is much more than 25k even with the crazy COE, and maintainence more than 5k over 10 years.

[Volvobrick]

1 hour ago, shrjun said:

read somewhere that these are  ' combined ' accounts of multiple riders doing shift jobs to maximise the platform bonuses

IRAS will treat as single income...

[Benarsenal]

6 hours ago, Cheesey74 said:

I think motorbike coe price surge is mainly bcos those grab food delivery dudes just blindly bought their new bikes with GrabRental which is a very popular rent to own scheme, they dun care how much their bike cost n only look at their daily rental, u can see so many delivery dudes riding brand  FBT/FBU new bikes doing delivery, really make no sense considering the amount they earn vs the high coe they pay but well as long as they r happy i guess..

https://www.grab.com/sg/driver/transport/rentals/motorcycle-ownership-scheme/

It's the same as those who rent cars to do PHV. At one point LCR/Uber was releasing hundreds of brand new cars pretty much every week. I'm sure Grab/GoJek are still adding new cars to their rental fleet right now

[kobayashiGT]

On 4/9/2022 at 9:24 AM, Ct3833 said:

30 years ago.....

- our father then  were not as rich as our children's father now.

- the youngsters then are not as rich as the youngsters now 

- HDB were 200k, now no 500k no talk. $1m Resale HDB  was unheard of last time, now $1m in popular area  is cheap.

- there were not many millionaires but now there are more than 0.5m of the population are millionaire

- last but not least, SGP GDP per capita....

There are many more other there and then comparison, end of the day, COE more than 100k is expected, 150k is reasonable.

 

 

U gotget to add inflation.

Last time chicken rice only cost $1.50.

[Jamesc]

I give everyone fair warning.

I will be bidding over 100k next round for my customers.

But still no increase in massage prices.

Edited April 11, 2022 by Jamesc

[Jamesc]

100k COE times how many thousand COEs

+

petrol tax

Covid budget paid off already?

Or is the correct question paid off how many times already? 

[Stratovarius]

7 hours ago, kobayashiGT said:

U gotget to add inflation.

Last time chicken rice only cost $1.50.

yesterday my dad told me chicken rice in the 70s cost $1.50. i told him like that now 4 dollars is still quite cheap. why we keep complaining? 🤣

[inlinesix]

19 minutes ago, Stratovarius said:

yesterday my dad told me chicken rice in the 70s cost $1.50. i told him like that now 4 dollars is still quite cheap. why we keep complaining? 🤣

When I moved into my estate in 2004, chicken rice was $2.50.

Now, it is $3.50.

$1.50 chicken rice in the 70s is expensive.