COE trends are often hard to predict because of their peaks and valleys. Last year brought an unexpected surge in premiums, with four out of five categories setting record highs.
Playing the guessing game can be difficult when it comes to COEs, so prospective buyers should stay up-to-date on current trends and pricing developments at our Carsnap COE page.
If you’d like to know more about Certificate of Entitlement (COE), then our comprehensive guide on COE in Singapore is filled with lots of information to help you understand.
Table of Contents
What is COE Open Bidding Exercise?
The COE bidding exercise in Singapore occurs twice a month, always starting on the first and third Mondays of the month at 12 pm local time. The bid then closes on both Wednesdays of that week, with a final cutoff at 4 pm SGT.
However, this schedule is affected by three public holidays in 2023; New Year’s Day, Labour Day and National Day.
2023 COE Open Bidding Dates
| Month | Bidding Start Date / Time | Bidding End Date & Time |
|---|---|---|
| January 2023 (1) | 3 Jan 2023 (Tue) 12 pm | 5 Jan 2023 (Thu), 4pm* |
| January 2023 (2) | 16 Jan 2023 (Mon)12 pm | 18 Jan 2023 (Wed), 4pm |
| February 2023 (1) | 6 Feb 2023 (Mon)12 pm | 8 Feb 2023 (Wed), 4pm |
| February 2023 (2) | 20 Feb 2023 (Mon)12 pm | 22 Feb 2023 (Wed), 4pm |
| March 2023 (1) | 6 Mar 2023 (Mon)12 pm | 8 Mar 2023 (Wed), 4pm |
| March 2023 (2) | 20 Mar 2023 (Mon), 12 pm | 22 Mar 2023 (Wed), 4pm |
| April 2023 (1) | 3 Apr 2023 (Mon), 12 pm | 5 Apr 2023 (Wed), 4pm |
| April 2023 (2) | 17 Apr 2023 (Mon), 12 pm | 19 Apr 2023 (Wed), 4pm |
| May 2023 (1) | 2 May 2023 (Tue), 12 pm | 4 May 2023 (Thu), 4pm** |
| May 2023 (2) | 15 May 2023 (Mon), 12 pm | 17 May 2023 (Wed), 4pm |
| June 2023 (1) | 5 June 2023 (Mon), 12 pm | 7 June 2023 (Wed), 4pm |
| June 2023 (2) | 19 June 2023 (Mon), 12 pm | 21 June 2023 (Wed), 4pm |
| July 2023 (1) | 3 July 2023 (Mon), 12 pm | 5 July 2023 (Wed), 4pm |
| July 2023 (2) | 17 July 2023 (Mon), 12 pm | 19 July 2023 (Wed), 4pm |
| August 2023 (1) | 7 August 2023 (Mon), 12 pm | 10 August 2023 (Thu), 4pm*** |
| August 2023 (2) | 21 Aug 2023 (Mon), 12 pm | 23 Aug 2023 (Wed), 4pm |
| September 2023 (1) | 4 Sep 2023 (Mon), 12 pm | 6 Sep 2023 (Wed), 4pm |
| September 2023 (2) | 18 Sep 2023 (Mon), 12 pm | 20 Sep 2023 (Wed), 4pm |
| October 2023 (1) | 2 Oct 2023 (Mon), 12 pm | 4 Oct 2023 (Wed), 4pm |
| October 2023 (2) | 16 Oct 2023 (Mon), 12 pm | 18 Oct 2023 (Wed), 4pm |
| November 2023 (1) | 6 Nov 2023 (Mon), 12 pm | 8 Nov 2023 (Wed), 4pm |
| November 2023 (2) | 20 Nov 2023 (Mon), 12 pm | 22 Nov 2023 (Wed), 4pm |
| December 2023 (1) | 4 Dec 2023 (Mon), 12 pm | 6 Dec 2023 (Wed), 4pm |
| December 2023 (2) | 18 Dec 2023 (Mon), 12 pm | 20 Dec 2023 (Wed), 4pm |
*New Year’s Day falls on Sunday, 1 Jan 2023 hence Monday is a public holiday
**Labour Day, 1 May 2023, Monday is a public holiday
***National Day, 9 August 2023, Wednesday is a public holiday
What are the COE categories?
In Singapore, there are 5 types of Certificate of Entitlement (COE) categories that a vehicle can belong to. These include Category A, B, and E which are applicable to the average passenger car buyer.
COE Category A
It’s for internal combustion engine (ICE) passenger cars with engine capacities of 1,600cc and below and less than 97kW/130hp; electric cars with less than 110kW/147hp.
Category A of the COE (Certificate of Entitlement) is a car category that includes vehicles with an engine capacity at or below 1.6-litres.
This generally means this category is meant for more commonly seen cars, however, due to the increasing number of small-capacity turbocharged engines in many ‘premium’ models this may not necessarily be the case. Since 2013, the LTA has implemented a power cap for Category A to keep these ‘premium’ vehicles out of this regular car category.
In May 2022, the LTA announced that electric cars with less than 147hp in their power output will now be classified under COE Category A.
This was done to reflect the fact that even mainstream electric car models can produce more horsepower compared to those operated by traditional combustion engines.
COE Category B
It’s for internal combustion engine (ICE) passenger cars engine capacities of 1,600cc and above, or with more than 97kW/130hp; electric cars with more than 110kW/147hp.
Certificate Of Entitlement (COE) Category B refers to the premium segment of cars in the market. Cars belonging to this category are usually higher in price and come with smaller quotas compared to other categories due to the fact that buyers of premium vehicles can afford to spend more money.
COE Category C
It’s for goods vehicle and bus.
Category C of a Certificate of Entitlement (COE) is used to identify motor vehicles such as delivery vans and flatbed trucks. It typically does not apply to cars purchased by individuals, however in cases with high need for commercial vehicles, it can also affect the demand and cost of Category E cars.
COE Category D
It’s for motorcycle.
Category D is the exclusive COE for motorcycles. Compared to the other categories, motorcycle COEs are much cheaper and motorcyclists can bid only from this category. This serves as a blessing in disguise since motorcyclists would not have to expend their already limited budget on an Open Cat E COE, which is significantly more expensive than a Cat D COE.
COE Category E
It’s an open category for any all vehicles except motorcycles.
Category E of the Certificate of Entitlement (COE) is controversial and quite unique compared to other categories. It is an open category, allowing numerous sources in bidding, as it is applicable to any vehicle on wheels that isn’t a motorcycle.
It also allows for transferability for three months, which sets it apart from Category A and B COEs, which must be tied to a specific vehicle registration plate and are non-transferable. The potential marketability of Cat E COE attracts speculators looking to make a quick profit.
What time is COE bidding?
The COE bidding exercises usually take place on the first and third Monday of each month, beginning at 12 pm and lasting for 3 days. The bidding process will end by 4 pm on Wednesday in the same week, unless there is a public holiday.
Is now a good time to buy car in Singapore?
With COE premiums on an upward trajectory, it is definitely the optimum moment to consider purchasing a new car. While the expense of such a purchase can be overwhelming due to restrictions such as loan arrangements, minimum down payment, and the COE premium, now may be the opportune time to make that investment.
How does COE bidding work?
1. The COE Open Bidding System is a competitive bidding process wherein the available quota of Certificates of Entitlement (COEs) are bid for at an increment of $1.
2. A bidder sets a maximum price for which they would like to pay for the COE, known as the reserve price.
3. As long as the reserve price is equal or greater to the Current COE Price (CCP), their bid will remain standing.
4. The CCP is established by the highest unsuccessful bid plus $1 per person. 5. When the number of reserve prices equal or higher than the CCP matches with what is currently available in quotas, no revisions come and the exercises close.
6. At this point, all successful bidders within that category will pay the same Quota Premium determined by CCP which acts as its ultimate closing bid.
7. If a bidder’s reserve price was greater than this, then any remaining change will be refunded back to them.
What is the latest COE prices record?
In the most recent bidding exercise for Certificate of Entitlement (COE) prices (22 March 2023), both small and large cars hit new record highs. Specifically, premiums for small cars or fully electric cars (COE Cat A) with limited output increased by 6.25% to S$93,503, surpassing the previous record of S$92,100 set over a decade ago in January 2013. Meanwhile, large cars or fully electric cars (COE Cat B) with output over 110kW saw premiums increase from the previous high of S$115,501 to S$116,201.
