SINGAPORE - Certificate of entitlement (COE) prices ended higher across the board in the latest tender 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 $53,709, up from $52,709 two weeks ago. The premium of COE for cars above 1,600cc or 130bhp closed at $82,801, up from $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 $88,000, up from $85,000.
The commercial vehicle COE price closed at $42,001, up from $40,501. The motorcycle COE premium ended at $9,381, slightly higher from $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 $70,000.
From then, bids continued to rise quickly, except for motorcycles. Motorbike bids remained at $1 right up to last four minutes before closing at 4pm. Then, it started at just above $6,000, moving across $9,000 in the closing seconds of the tender.
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