How to Bid for COE in Singapore: A Step-by-Step Guide

Bidding for a Certificate of Entitlement (COE) can feel intimidating the first time. This guide walks through exactly how the process works so you know what to expect before you commit.

When Do COE Bidding Exercises Happen?

The Land Transport Authority (LTA) runs two bidding exercises every month, usually on the first and third Wednesday. Each exercise opens on a Monday and closes at 4:00 PM Singapore time on Wednesday. You can see the outcome of every past exercise in the COE results archive.

How the Auction Works

COE uses a uniform-price sealed-bid auction:

The LTA announces the quota (number of COEs available) for each category.
Bidders submit a maximum bid amount during the exercise window.
When bidding closes, bids are ranked from highest to lowest.
Everyone who wins pays the same price — the lowest successful bid, known as the Quota Premium (QP).

So if 800 COEs are available, the 800th-highest bid sets the price that all 800 winners pay. You can watch your bid’s standing update in real time during the exercise.

Step-by-Step: Placing a Bid

1. Decide your category

Choose the right category for your vehicle — Cat A for smaller cars, Cat B for larger or more powerful cars, or Cat E (Open) which can be used for any vehicle type.

2. Open a bid account

Bids are placed through an LTA-appointed bank’s ATM or internet banking, or — far more commonly — through your car dealer, who bids on your behalf.

3. Set your reserve price

You enter a reserve price: the maximum you’re willing to pay. Your bid will not exceed this amount. You can revise it upward during the exercise, but not downward.

4. Place the deposit

A deposit is required to bid (commonly $10,000 for cars). If you win, it goes toward the COE; if you don’t, it’s refunded.

5. Monitor and adjust

During the open window, the current COE price moves as bids come in. If the price rises above your reserve and you still want to win, you can raise your reserve before the close.

Bidding Through a Dealer vs On Your Own

	Through a dealer	On your own
Effort	Dealer handles the mechanics	You manage the bid and deposit
Common for	New car purchases	Used/parallel imports, some private deals
Control	Agreed via your purchase contract	Full control of your reserve price

Most buyers of new cars bid through the dealer as part of the purchase package. If you’re managing it yourself, understanding the timing and reserve mechanics matters even more.

Tips Before You Bid

Study the trend first. Don’t anchor to a single exercise — look at the last 3–6 months. Our prices-by-year summaries and category pages make this easy.
Set a realistic reserve. Decide your ceiling in advance so you don’t chase a rising price emotionally.
Watch both monthly exercises. Prices can differ meaningfully between the first and third Wednesday.

The free COE Price Tracker app shows a live countdown to the next exercise, trend charts, and price alerts so you can prepare with the full history in hand.

This article is for general information only and is not financial advice. For official procedures and figures, refer to the LTA.

Related reading: What Is COE in Singapore? · How to Save Money on COE