The second certificate of entitlement (COE) exercise of October opens at 12 noon on Monday (19 October) with 3,231 certificates, 39 fewer than in the first round. Bidding on the Land Transport Authority’s OneMotoring system closes at 4pm on Wednesday (21 October), with the quotas set in a Government Gazette notification on Friday (16 October).
Fewer certificates for both car categories
Category A, for cars up to 1,600cc and 97kW and electric cars up to 110kW, has 1,191 certificates, down 41 from the first October round. Category B, for bigger and more powerful cars, has 923, down 22.
Goods vehicles and buses in Category C drop by two to 308. Motorcycles in Category D go up by nine to 539, and the Open category, which can be used for any vehicle except a motorcycle, rises by 17 to 270.
Category Oct round 1 premium Oct round 1 quota Oct round 1 bids Oct round 2 quota A (cars up to 1,600cc and 97kW; EVs up to 110kW) S$130,001 1,232 1,560 1,191 B (cars above 1,600cc or 97kW; EVs above 110kW) S$130,100 945 1,126 923 C (goods vehicles and buses) S$91,889 310 471 308 D (motorcycles) S$11,012 530 599 539 E (open, all except motorcycles) S$137,000 253 492 270
Where round 1 left prices
The first October exercise closed on 7 October with premiums lower in four of the five categories. Category A fell to S$130,001 and Category B to S$130,100, leaving the two car categories S$99 apart.
Category C closed at S$91,889 and motorcycles at S$11,012. The Open category was the only one unchanged, at S$137,000.
A total of 4,248 bids came in for 3,270 certificates. The Open category was the most contested, with 492 bids for 253 certificates. Category A drew 1,560 bids for 1,232 certificates.
Not every certificate found a buyer. Category B had 938 successful bids for its 945 certificates, and the Open category 229 for 253.
Renewal prices for October
Owners renewing a COE this month pay the prevailing quota premium instead of bidding. For October it is S$128,715 for Category A and S$131,616 for Category B. The prevailing quota premium is the moving average of quota premiums over the previous three months.
A 10-year renewal costs the full amount. A five-year renewal costs half and cannot be renewed again.
LTA is separately consulting on merging Categories A and B, with rebates or surcharges by car value, and feedback is open until 2 November.
How the bidding works
Individuals bid through DBS or POSB ATMs, and companies and motor traders can also bid online through DBS, UOB or Maybank. An individual must be at least 18 and can submit one bid per exercise.
The bid deposit is S$10,000 for Categories A, B, C and E, and S$1,500 for motorcycles. Each bid carries a reserve price, the most the bidder is prepared to pay. A submitted bid cannot be withdrawn, though the reserve price can be raised before bidding closes.
All successful bidders in a category pay the same quota premium. After this round closes on Wednesday, the next exercise opens at 12 noon on Monday, 2 November, and closes at 4pm on Wednesday, 4 November.
