COE prices mixed in September's first open bidding exercise

Only 1,886 out of 2,918 bids were successful.

The Land Transport Authority (LTA) received 2,918 bids at the end of the September first open bidding exercise for Certificates of Entitlement (COEs). Of these, 1,886 were successful.

In a media release, the LTA announced that the Prevailing Quota Premiums (PQP) for existing vehicles fall under Categories A to D will be available after the September second open bidding exercise.
COEs in the Open category recorded $74,403, a 2.2% increase from the previous tender. 

Premiums for big cars, which are above 1,600cc and 130bhp, increased $20 to $73,010, while premiums for the small car and goods vehicle categories finished lower.

COEs for cars up to 1,600cc and 130bhp dipped 1.3% to $64,841, while COEs for goods vehicles and buses fell 4.8% to $49,901.

COEs for motorcycles increased 2.3% to $4,453.

Here’s more from the LTA:

Bidders can use the Temporary Certificates of Entitlement (TCOEs) obtained from this bidding exercise upon receipt of the TCOE notification letters. The non-transferable TCOEs will be valid till 14 March 2015. The transferable TCOEs will be valid till 14 December 2014. TCOEs issued to companies are not transferable.

Successful applicants will be notified within the week. The COE bid deposits of unsuccessful applicants will be credited into their bank accounts by their respective banks.