Bid COE yourself - I tried it!

[Boringchap]

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. 

[flashbang]

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.

[Boringchap]

...and $2 flies away.

 

For the fun, ok lah.

[Angcheek]

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 ?

[Nonewposts]

If really get then huat

[minion]

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?

[Zeally]

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.

[uniquely_ad]

interesting, has anyone actually won bidding 2$?

[Boringchap]

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. 

[Yeobt]

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.

 

[Pinobii]

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

[Boringchap]

Thanks for sharing, looks like quite a hasslefree process

 

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

[Pinobii]

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

[Boringchap]

Go to the One Motoring website to check the current bid price.

http://www.onemotoring.com.sg/1m/coe/coeDetail.html

 

Here is a screenshot as at 21:58hrs on 18 Jan.  Live one.  

 

[flashbang]

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.

[Boringchap]

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.  

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 January 18, 2016 by Boringchap

[F355]

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 .

[flashbang]

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...