why 7) $25,000 ?
Lowest sucessful bidder is 4) right?
All these time, i do not know how the COE bidding system work.
And i was a car salesman before somemore.
The Govt will take the lowest not qualified Bid and then Plus $1,
that is the COE, so that one who bid at 25000 will get heart pain,
whereas anything above 25,001 will qualify and that is exactly the
availiable quotas of 5.
Let get into this current CAT A bidding, some may bids $1 and
some may bidded 90k, but the quotas is only 336 that means
only 336 people can get it, there are 1.180 peoples bidding
for it, from individual to ADs.
Final COE for Cat A. $74689, this show that the lowest bid was
74,688, so from here to whatever 90k or 100k bidding, these are the
336 people bidding on the higher end, be it 75k or 79k or 98k.
Therefore COE is determined by counting the Quotas from the highest
bid down and the last non qualified one, they will just add $1 so
that he cannot get it.
Even those who bidded successfully but end up did not take
it or got no money or for whatever reason cannot make to pay
for it, it will bring forward to the next bidding, meaning the next
bidding will have a higher Quotas.
So let say I get this COE, but I find that the car prices is too
high, I know COE will drop, then I might hv to forgo 10k as
penalty for not taking up the car (new car apply), but I wait for
the next COE which may drop 30 to 40k, more worthy than I pay
now.
