COE premiums rise across all categories in the first bidding round of January

In the first round of bidding for January, Certificate of Entitlement (COE) prices rose across all categories.

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, increased by $2,431 (7.4%) and ended at $35,320.

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, rose by $1,109 (3.0%) and ended at $37,109. 

In Cat E, the open category, premiums rose by $11 (0.02%), and closed at $38,000.

The increase in COE premiums is likely due to the fact that this was a three-week bidding round. As a result, there was an increase in bids recieved for Cat A and Cat E, which rose from to 1,256 to 1,450 and from 496 to 541 respectively.