In the first Certificate of Entitlement bidding round for October, prices rose across all categories, with Cat B seeing the highest increase.
In the first round of bidding in October, Certificate of Entitlement (COE) prices across the board for Cat A, B and E rose.
COE premiums rose across the board for the first bidding round of October Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $2,242 (7.1%) and ended at $34,001.
Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, increased by $4,361 (11.8%) and ended at $41,361.
In Cat E, the open category, premiums went up by $1,001 (2.5%), with premiums closing at $41,001.
The sizable increase in COE premiums across the board may be due to the fact that this was a three-week bidding round, inviting more bids than usual.
Further interest in car purchases for this bidding round may also have been generated from the recent [email protected] exhibition. This can be observed from the increase in bids received, which rose from 1,453 to 1,659 for Cat A, and 1,418 to 1,559 for Cat B.