COE Bidding – 2nd Round of October 2016

[Ct3833]

For the October 2nd bid on 19 Oct (ie. your 2nd bid), Cat A COE was at $45,000 until 3:50pm, when the car rental companies submitted 380 bids and pushed prices up by $$6,000 to $50,991.

 

I suppose Komoco did not revise your bid even at 10 minutes prior to the closing, when it stood at $45,000.

We dont know how much KMC bidded for him when the bid stood 45k before 380 bids came in. KMC might have bidded anything between 45,000 to 50,990 at that point in time. But what was reflect then was the lowest successful bid at 45,000. That means they have a chance to secure COE for him, so there was no need for KMC to revise their bid. The 380 bid came in subsequently to push all those below 50,990 out of the game. Edited November 11, 2016 by Ct3833

[wdldalian]

This is interesting indeed. I will refer this to the SE/kmc and see what other excuses they have this time around.

 

Just to recap, this is what happend in the last minutes of bidding.

 

Time  COE     No. of bidders

1546  1           1,997  

1548  38,999   2,093   

1550  45,334   2,193

1551  48,021   2,299

1552  48,081   2,314

1553  48,321   2,384

1554  48,501   2,398

1555  49,389   2,500

1556  49,551   2,513

1557  50,061   2,565

1558  50,501   2,570

1559  50,948   2,575

1600  50,991   2,584

[merc280v6]

We dont know how much KMC bidded for him when the bid stood 45k before 380 bids came in. KMC might have bidded anything between 45,000 to 50,990 at that point in time. But what was reflect then was the lowest successful bid at 45,000. That means they have a chance to secure COE for him, so there was no need for KMC to revise their bid. The 380 bid came in subsequently to push all those below 50,990 out of the game.

But the buyer himself will be able to see (in LTA's secure website, not public) how much KMC had actually bidded for him during the last 15 min, if at all.

[obat22]

But the buyer himself will be able to see (in LTA's secure website, not public) how much KMC had actually bidded for him during the last 15 min, if at all.

 

I don't think KMC had revised the bidding as the 'COE BIDDING SYSTEM' after 4pm was 38998, which may not be accurate. I will speak to the SE next week and get to the bottom of this. Cheers.

[therock]

Bro

For your last bid maybe you can talk to their manager and see much chance you have and if you add a certain amount will you get it?

Of course you can opt to watch but it may be tough to achieve success. Cheers

[Pocy]

I don't think KMC had revised the bidding as the 'COE BIDDING SYSTEM' after 4pm was 38998, which may not be accurate. I will speak to the SE next week and get to the bottom of this. Cheers.

The last bid $ is still in LTA system, can check now. Wonder what to ask SE/AD on an unsuccessful bid under NG.

[Ct3833]

I don't think KMC had revised the bidding as the 'COE BIDDING SYSTEM' after 4pm was 38998, which may not be accurate. I will speak to the SE next week and get to the bottom of this. Cheers.

Did you check at that point in time what price they did they bid for you? 38,998 was what they bidded for you in the system under your IC?

[Sktan10]

At $95K, Borneo Motor still makes a decent $10K profit.

 

Take OMV $14K x 2.35 + COE $52,500 for cost of car to Borneo Motors.

 

Take your $95K to purchase the Kia Cerato Forte K3. The 6 speed auto is more engaging & the superb road holding and high speed stability on the NorthSouth Highway can be very addictive.

 

 

No doubt K3 is good.When come to resale,you will know which is better.

I m driving kia and colleague driving Toyota.

[13177]

We dont know how much KMC bidded for him when the bid stood 45k before 380 bids came in. KMC might have bidded anything between 45,000 to 50,990 at that point in time. But what was reflect then was the lowest successful bid at 45,000. That means they have a chance to secure COE for him, so there was no need for KMC to revise their bid. The 380 bid came in subsequently to push all those below 50,990 out of the game.

How come kmc bidded up to 50,990 that time? Thought bid amount should be like 50,999 to maximize the bidded amount in the 50k range, also avoid like that coe round, final price was at 50,991. Wouldnt it be wasted to be outbidded by $9 dollar?

[obat22]

Did you check at that point in time what price they did they bid for you? 38,998 was what they bidded for you in the system under your IC?

Yes.

[obat22]

At $95K, Borneo Motor still makes  a decent $10K profit.

 

Take OMV $14K x 2.35 + COE $52,500 for cost of car to Borneo Motors.

 

Take your $95K to purchase the Kia Cerato Forte K3. The 6 speed auto is more engaging & the superb road holding and high speed stability on the NorthSouth Highway can be very addictive.

Is Kia K3 at 95K a  slightly better buy than Elantra (basis) or Elantra "S" at present pricings? K3 has more features but 2 airbags only also PHC (LCR). Thanks.

[dahliax85]

Yes.

What was ur rebate level bro?

[dahliax85]

Yes.

What was ur rebate level bro?

[obat22]

What was ur rebate level bro?

33K

[Pocy]

Last time cat A touched $33K was 6 years ago in 2010. KMC must be joking.

[Eyke]

OMV x 2.35 + COE = Cost of car to AD.

 

not so simple anymore:

 

  1.284 x OMV + ARF + CEVS + COE 

 

ARF & CEVS are variable depending on OMV & emissions respectively.

[13177]

Last time cat A touched $33K was 6 years ago in 2010. KMC must be joking.

It is a joke to give $33k coe rebate, lol. Unless coe can drop to $45k and below. I dont understand how come kmc can offered such car package to buyer?

[Sotong1977]

33K

My SE bidded 52999 for my k3 in Oct when COE was 50k. My coe rebate was 36k. COE rebate doesnt decide the bidding price. There are other more crucial factors mentioned before in this forum Edited November 12, 2016 by Sotong1977