COE prices end higher in latest tender as supply shrinks
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[SINGAPORE] Certificate of entitlement (COE) prices ended higher across the board in the latest tender on Wednesday as a double-digit drop in supply of certificates kicked in.
The COE premium for cars up to 1,600cc and 130bhp finished at S$53,709, up from S$52,709 two weeks ago. The premium of COE for cars above 1,600cc or 130bhp closed at S$82,801, up from S$80,210.
The price of the open COE, which can be used for any vehicle type except motorcycles but which ends up almost entirely for bigger cars, ended at S$88,000, up from S$85,000.
The commercial vehicle COE price closed at S$42,001, up from S$40,501. The motorcycle COE premium ended at S$9,381, slightly higher from S$9,310.
Biding remained subdued till 3.30pm, with the number of bids well below the number of available COEs. Then at around 3.30pm, bidding for the open COE breached S$70,000.
From then, bids continued to rise quickly, except for motorcycles. Motorbike bids remained at S$1 right up to last four minutes before closing at 4pm. Then, it started at just above S$6,000, moving across S$9,000 in the closing seconds of the tender.
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