Open COE finishes lower than COE for cars
In a rare turn, the price of the Open Certificate of Entitlement (COE) - typically the highest at the end of each tender - finished lower than prices of COEs for cars, both big and small, yesterday.
Fuelled by aggressive bidding in the last minutes of the latest auction, COE prices for motorcycles also reached a new high.
COE prices for cars up to 1,600cc and 130bhp closed 8.4 per cent higher at $40,000. Those for cars above 1,600cc or 130bhp finished 0.8 per cent lower at $42,322.
Premiums for Open COE, which can be used for any vehicle type except motorcycles, closed 9.3 per cent lower at $39,903.
Open COE is usually the costliest because it is transferable and is stockpiled by dealers for urgent sales.
Commercial vehicle COE prices finished 1.8 per cent lower at $38,303.
Motorcycle premiums climbed 5.6 per cent to hit a new high of $8,451 as speculators continue to hoard certificates.