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Local News: Dec COE Round 1 Results

It was a day for the record books as COE prices continue their skyward surge.
OneShift Editorial Team
OneShift Editorial Team
08 Dec 2010

The first round of Certificate of Entitlement (COE) biddings for December saw prices surge past the previous round’s record-setting 10-year highs for both Category A (cars below 1600cc and below, and taxis) and Category B (cars above 1600cc).

A total of 1,020 bids were received for the 598 Category A COEs available, with prices rising $8,604 to $47,604. One thousand and thirty-four bids were lodged for Category B COEs, which had a quota of 479. Category B prices hit $62,502 following a rise of $14,612.

Despite these numbers, it is still a far cry from the highs of the 1994, when speculators pushed COE premiums past the six-figure mark. The next round of COE bidding will be in two weeks.

Credits: JoeYadao

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