Bid COE yourself - I tried it!

[Ingenius]

People who self bid are mostly trying their luck to hit the jackpot and obtain a very cheap COE.

[Sktan10]

interesting, has anyone actually won bidding 2$?

Neighbour ever bid & get the low coe in 2009.How much i cant remember but is the the range of hundreds only.

He took the coe and go tan chong to buy latio.

[Wind30]

Thanks for the illustration. Just to add on, this is an open auction which means bidders will try to outbid each other for the COE. The last minute or late bidders will put in a higher bid in order to be successful so it's not surprising to see COE shoot up in the last minutes of the bid and really depends on how desperate they are. 

 

So for those who say conspiracy, phantom bidders etc are really living in a dream world and so are those asking the buyers to co-operate and bid low so that LTA can be screwed. In the real and competitive world we live in, it's each man for his own unfortunately and that drives bids not only for COE but any bidding for that matter.

 

If the number of bidders is small, there is always a REALISTIC chance that bidders can collaborate. Examples of this is everywhere. 

 

For bidding to be competitive, you need a decent number of independent bidders. 

A few of my friends bidded their own COE, only save a couple of $k for COE. But unable to get any car from AD. End up getting less popular car model from PI.

 

Is it against the laws if AD refuse to sell car to you if you have COE?

 

Any legal experts care to share?

 

Can we go to Motor Association to compliant since they put up white paper to gov for OCS? I just feel it is unfair to consumers.

 

I think LTA is the one we should complain too. Who is motor Association? I went to the LTA round table a couple of years back during the feedback exercise.

 

The LTA officer is so blur that he thought the car prices should be CHEAPER if you bring your COE as AD has less work to do (no need to do COE bidding) That is how disconnected our policy makers are.

 

I did not have first hand experience of buying a car with COE so I cannot give examples... Guys if you have real life experience, FEEDBACK to LTA. get them to change the policy

[BenTong]

If the number of bidders is small, there is always a REALISTIC chance that bidders can collaborate. Examples of this is everywhere.

 

For bidding to be competitive, you need a decent number of independent bidders.

 

 

I think LTA is the one we should complain too. Who is motor Association? I went to the LTA round table a couple of years back during the feedback exercise.

 

The LTA officer is so blur that he thought the car prices should be CHEAPER if you bring your COE as AD has less work to do (no need to do COE bidding) That is how disconnected our policy makers are.

 

I did not have first hand experience of buying a car with COE so I cannot give examples... Guys if you have real life experience, FEEDBACK to LTA. get them to change the policy

Not blur. Act blur more like it

[Spring]

If the number of bidders is small, there is always a REALISTIC chance that bidders can collaborate. Examples of this is everywhere. 

 

For bidding to be competitive, you need a decent number of independent bidders. 

 

Our COE bid is precisely having quite a fair number of independent bidders so I don't see how it can be collaborated. If you talking about art pieces then maybe cos of the small no. of bidders but even then there are checks in place to regulate it but for our COE it's both Open in the sense that it's transparent price for all to see and yet close in the sense of bidders behind computers so I believe it can't be collaborated. 

Edited January 19, 2016 by Spring

[edwin15]

 

The LTA officer is so blur that he thought the car prices should be CHEAPER if you bring your COE as AD has less work to do (no need to do COE bidding) That is how disconnected our policy makers are.

 

 

 

Seems like the officer never buy car before. Put yourself in his shoes and give chance lah. Everyday do administration for motor cars but do not have one himself.

 

Morale must not be very high.

[Erykool]

Have anyone tried starting a movement via fb to gather enough self bidders to make a difference?

[Jellandross]

AD always claim they 'subsidise' ur COE. Package price w COE 100k. Non-Pkg price 80k. Simply profiteering.

 

Onli way out of this is to ban ADs from bidding n packaging COEs. Don't see why it's that difficult for LTA to implement. I mean, when someone buys BTO direct from hdb, can one appoint property agent buy on their behalf at the price quoted by the agent?

It looks like the ADs are using the COE as a hidden mechanism to squeeze more profit from customers right? When COE goes up 5K, selling price increase by same amt. But when COE drop 5K, maybe selling price drop only 1K for the same car model. I'm not an expert in auto industry but this legal way of profiteering looks pretty obvious to me.

 

As for LTA, I guess they want to protect the ADs to continue their profiteering. Imagine the backlash from the ADs if LTA mandate all COEs to be only bidded by owners directly. I remember LTA gave some lame excuse that ADs are providing a value added service by bidding for COE and that consumers can choose to bid personally if they so decide. But they conveniently ignore the fact that ADs can "flexibly" quote a different sell price to "encourage" you to let them bid your COE.

 

Govt has always been pro-business especially to the big players rather than pro-consumer. Another similar case is the oil and gas conglomerate. See how oil prices are diving but our petrol prices are not?

 

Of course, I'm very sure all these practices are perfectly legal, like many things in SG.

Edited January 19, 2016 by Jellandross

[kennytansk]

It looks like the ADs are using the COE as a hidden mechanism to squeeze more profit from customers right? When COE goes up 5K, selling price increase by same amt. But when COE drop 5K, maybe selling price drop only 1K for the same car model. I'm not an expert in auto industry but this legal way of profiteering looks pretty obvious to me.

 

As for LTA, I guess they want to protect the ADs to continue their profiteering. Imagine the backlash from the ADs if LTA mandate all COEs to be only bidded by owners directly. Govt has always been pro-business especially to the big players rather than pro-consumer. Another similar case is the oil and gas conglomerate. See how oil prices are diving but our petrol prices are not?

 

Of course, I'm very sure all these practices are perfectly legal, like many things in SG.

 

Any members or on-lookers here from CASE?

 

Remembered sometime back when oil prices shoot to $2.40+ and they came out to control the "profiteering" from the big oil co.

 

Now with the oil prices so low how can our pump prices still so high and not coming down in tandem? 

Also on the COE drop and car prices NO drop or smaller than COE dip, differential issue?

 

Can we file these 2 matters to CASE to take action?

 

Nowadays seems not much "noise" issue raised by them. Complacency or All's well and dandy??? Everyone's happy with it?

[Jellandross]

Any members or on-lookers here from CASE?

 

Remembered sometime back when oil prices shoot to $2.40+ and they came out to control the "profiteering" from the big oil co.

 

Now with the oil prices so low how can our pump prices still so high and not coming down in tandem? 

Also on the COE drop and car prices NO drop or smaller than COE dip, differential issue?

 

Can we file these 2 matters to CASE to take action?

 

Nowadays seems not much "noise" issue raised by them. Complacency or All's well and dandy??? Everyone's happy with it?

 

CASE is..... Cannot even fight Jover Chew, how to fight mega corporations?

 

Edited January 19, 2016 by Jellandross

[Kezg]

Have anyone tried starting a movement via fb to gather enough self bidders to make a difference?

 

 

 

....I guess In MCF we should have enuf  members to self Bid....count me In..

[Kezg]

Have anyone tried starting a movement via fb to gather enough self bidders to make a difference?

 

 

 

....I guess In MCF we should have enuf  members to self Bid....count me In..

[Luckcent]

Any members or on-lookers here from CASE?

 

Remembered sometime back when oil prices shoot to $2.40+ and they came out to control the "profiteering" from the big oil co.

 

Now with the oil prices so low how can our pump prices still so high and not coming down in tandem? 

Also on the COE drop and car prices NO drop or smaller than COE dip, differential issue?

 

Can we file these 2 matters to CASE to take action?

 

Nowadays seems not much "noise" issue raised by them. Complacency or All's well and dandy??? Everyone's happy with it?

 

You forgot the 70% preferred them to do what they want.

 

[kennytansk]

CASE is..... Cannot even fight Jover Chew, how to fight mega corporations?

 

Hahaha, nice pictures bro.

 

Just that they got the wrong people to do it.

 

SG cannot be that lau-ka right?

 

Any btw, where does the price difference of the oil and pump prices go to? The gov coffers???

And where does the prices difference of the COE drop and car sales price go to??? The AD or PI pockets. This I believe is the difference that the related authority can catch and bring to task...

[VW0619]

hv a question, if you happend to secure a coe say $35k, does it deduct automatically from your bank account? if not, how and when must you pay up the coe fee?

[Erykool]

If at the point which live bidding shows 1659 bidders and the price at that moment is it the price of the lowest bid submitted or highest ah?

[Ahgong]

i still catch no ball leh. 

 

This one i try explain simple way:

 

There are 5 COEs available for bidding. There are 6 bidders who bid different amounts, as follows (in ascending order):

 

1. $10,000
2. $20,000
3. $30,000
4. $40,000
5. $50,000
6. $60,000

With this scenario, only bid #1 will not get the COE, and #2-6 all pays $20,000.

 

If got another 2 more bids put in around the half way mark, making it

1. $10,000
2. $20,000
3. $29,000
4. $30,000
5. $31,000
6. $40,000
7. $50,000
8. $60,000

then the 5 who gets the COE will be #4-8, and all pays $30,000.

 

The result is that, if the 2 additional bids were not made, final price is $20k, but it went up to $30k after the 2 bids were made.

 

If however, the 2 bids were $5 each, then there is still no impact.

 

[Erykool]

i still catch no ball leh.

Cat A got 1659 quota.

 

Let's say got 2000 bids.

 

If 1000 bid $50k

500 bid $48k

Then 100 bid $47k

59 bid $46500

341 bid $1

 

Then cat a result will be $46501 with all the 1659 bidders paying 46501 for their coe despite the 1600 bidders who bids above that amount.