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Everything the same except you pay for what you bid, closed bid and minimum 5k bid. If bids are less than quota, the extra COE are scrapped. Example, if you bid 100k and the lowest acceptable bid is 10k, you still have to pay 100k. It should be better in almost all ways to the current system. Current system totally favours the rich as you can bid astronomical sums and yet only pay for the lowest bids. If you want to push up the COE, be prepared to PAY for it, not everyone pay with you.... Government may get more revenue from the rich who WANTS their car NOW and willing to pay a premium. If the demand is less than the supply, please don't give $1 COE. Just scrap the extra COE. we will never have a problems with too little cars. The unused COE can be introduced in the future. minor changes but seems only have advantages to me.

Democrats propose a fairer COE system Tuesday, 14 December 2010 The recent announcement that the Government intends to slow the growth of the car population in Singapore has resulted in a hefty jump in COE prices. The latest bid for cars in Category A (1600 cc and below) is $47,604 in December compared to $39,000 in November - a jump of 22%. The existing system is highly unsatisfactory and in dire need of an overhaul for two fundamental reasons: One, it pits those who are financially powerful against those who are not. The system does not take into consideration the fact that working folks may have as great a need for private transport as those who are in the high-income bracket. For example, a couple who needs a car to run their small family business, ferry their children to and from school, and take care of their elderly parents would certainly have a greater need than another couple who already owns two cars but wants to buy a third for their teenage son. In such a set-up, a richer family would always out-bid a poorer family even though the poorer family may have a greater need for driving a car. Two, it must be realised