How COE Bidding Works in Singapore (2026): Categories, Prices & Dates

The short version: a COE (Certificate of Entitlement) is the 10-year right to own a vehicle in Singapore, and it's sold through open bidding twice a month. There are 5 categories (A and B for cars, C for goods vehicles/buses, D for motorcycles, E open). Bids are ranked, accepted until the quota fills, and everyone pays the lowest successful bid — the Quota Premium. The quota itself is set quarterly, driven largely by how many vehicles were deregistered. Track current and historical prices with the COE Price Tracker.

Quick answer: the mechanism in one paragraph

COE is allocated by open bidding, twice a month. LTA announces the quota per category beforehand; bidders submit bids; bids are ranked high-to-low and accepted until the quota is filled; the Quota Premium (the price) is set at the lowest successful bid, and all winners in that category pay the same amount. The quota is capped by the Vehicle Quota System and updated every three months.

What a COE actually is

Before you can register a vehicle in Singapore, you need a Certificate of Entitlement — the right to own and use that vehicle for 10 years. COEs are limited on purpose: the Vehicle Quota System (VQS) caps the total vehicle population because road space is finite. That scarcity is why COE prices can run into the tens of thousands of dollars.

The 5 COE categories

Most private-car buyers are competing in Category A or B. Category E is "open" and can be applied to register most vehicle types, which is why it often tracks closely with Cat B.

When bidding happens

• Two exercises per month.
• They usually start at 12pm on the first and third Monday of the month.
• Each exercise runs for three working days, typically closing at 4pm on Wednesday of that week (longer if a public holiday falls in between).
• LTA publishes the bidding dates and the quota per category before each exercise on OneMotoring.

How the price is set (the part people misunderstand)

COE uses a uniform-price open bidding system:

1. Everyone submits bids during the exercise.
2. When bidding closes, bids are ranked from highest to lowest.
3. Bids are accepted until the category quota is filled.
4. The Quota Premium is set at the lowest successful bid — the bid at the cut-off.
5. Every successful bidder pays that same Quota Premium, regardless of what they individually bid.

The practical implication: bidding higher improves your chances of being above the cut-off, but you only ever pay the final Quota Premium, not your bid. You won't "overpay" by bidding high — but you can lose by bidding too low.

Where the quota comes from

The number of COEs released isn't arbitrary. Under the VQS, the quota is based mainly on:

• The number of vehicles deregistered (scrapped or exported) — freeing up entitlements.
• The allowable growth in the vehicle population (often set at or near 0%).
• Adjustments for expired temporary COEs and any carried-forward/unallocated quota.

LTA updates the quota every three months, which is why prices can shift in steps when a new quarter's quota lands.

Renewing vs bidding

At the end of a COE's 10 years, owners can renew instead of bidding — by paying the Prevailing Quota Premium (PQP), which is the 3-month moving average of recent Quota Premiums for the category. Renewing is a different decision with its own trade-offs (notably forfeiting the PARF rebate) — see how to renew your COE.

The bottom line

COE bidding is a twice-monthly, uniform-price auction across five categories: bids are ranked, the quota fills, and everyone pays the lowest successful bid. The quota — and therefore the price — is driven by deregistrations and a near-zero growth policy, refreshed quarterly. Watch the numbers with the COE Price Tracker, and if your own COE is expiring, weigh renewing against buying new.

General information for Singapore vehicle buyers, not financial advice. COE quotas, dates, and prices change — check OneMotoring (LTA) for current figures.