Is our COE transparent?

[Killingtimes]

I think LTA should have a online system where ppl can see the tender prices being submitted.

[Jacf]

it should be transparent though it can't be seen how it works... all bids that are being submitted are being analysed & compared by the online system.. for eg, the COE quota is 2500, so the COE premium will be the reserve price of the bid in number 2500th place.. so if wanna get the COEs ,some dealers will put in a high reserve price or revised their reserve price accordingly... i think so

[Keithpapa]

Is our COE made of glass?

[Ccssgm]

Only Can Check......Here...... with IC Number Provided......

 

http://ocoe.lta.gov.sg

[Sony]

nah... you can even see it.. it's paperless

[Sony]

then you will have a lot of last min bidding and jamming up the system.

 

High chances of expensive COE.

[Unic]

They should make it such that you bid how much, you pay that much. If not, those rich guy will just bid 100k and just pay 12k for a COE.

[Vit4wd]

The current open bidding is definitely more transparent than the previous closed bidding.

 

Kudos to LTA for this

[Icekitten]

They should make it such that you bid how much, you pay that much. If not, those rich guy will just bid 100k and just pay 12k for a COE.

 

But they are taking a chance also if they bid so high I guess.

 

If quota is 2500 and 2500 rich guys all bid 100k then all of them will have to pay 100k for that COE.

[Jacf]

They should make it such that you bid how much, you pay that much. If not, those rich guy will just bid 100k and just pay 12k for a COE.

ll

 

well, that's the purpose of bidding! whoever can bid higher will get the goods(COE).. putting in 100k as reserve price means they are prepare to pay up to 100k for the COE.

 

somemore gov will lose more $$$ if ppl just pay for how much they bid.. nobody will put in high reserve price for the COE..all will adjust the reserve prices every now & then so as not to pay more $$$..

 

everyone should pay the same amount for the same COE they bid for.. eg, if quota is 2500, the 2500th highest bid is 12k ,then all will pay 12k for COE, else if the 2500th highest bid is 100k, then all will pay 100k for the COE..

[Unic]

What I means is if the 2499th bid 13k, he should pay 13k and the 2500th pay 12k. If the 1st highest is 100k, then he pay 100k.

[Jacf]

would you put in 100k in the first place initially for the bidding??? unless the guy got $$$ to burn, else any normal ppl will just put in the minimal sum first, then slowly increase the price so as to be the number 2500th highest bid & not the No 1 highest bid.. nobody would want to put in high reserve price in first place[rolleyes]

A 100k COE & 12k COE is no different, they are both only a piece of paper and become nothing in 10 yrs time!

Edited March 24, 2007 by Jacf

[Unic]

exactly, with pay as you bid, they won't bid so high for COE!