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The Certificate of Entitlement (COE) premium for the Open Category hit an all-time high of S$114,001 on July 20, 2022.

Open Category COEs are used mainly for large cars even though they can be used for any vehicle type.

This broke the record of S$110,524 on July 6, the last bidding exercise.

The July 6 figure was a new record on its own having surpassed the S$110,500 previous record set 28 years ago in December 1994 for the then-Category Four classification.

Category B and the Open Category crossed the S$100,000 psychological mark on June 8, 2022.

Premiums up for all categories

Premiums went up for all the other categories in the latest bidding exercise.

For Category A cars, those 1,600cc and below with 130bhp horsepower or less, premiums went up from S$78,001 to S$78,899.

For Category B cars, those 1,600cc and above, premiums went up from S$107,800 to S$110,003.

Motorcycle premiums went up from S$10,889 to S$10,910.

COEs for commercial vehicles, which include goods vehicles and buses, increased from S$54,001 to S$54,889.

A total of 2,750 bids were received, with a quota of 2012 COEs available.

Top photo via Unsplash