My regular readers (I mean from 5 years to 6 years ago) know my struggle to get a Shanghai car plate.
- A Car Plate = 27200 RMB in Sept 2009 September 19, 2009
- Shanghai Car Plate is NOT Investment January 20, 2008
- Seat-Belt? Oh. No. Thanks! October 29, 2007
- Congrats Victor for Getting Car Plate – at 46500 August 19, 2007
- Shanghai Car Plates IS Investment August 6, 2007
- Controversy Car Plates July 24, 2007
Finally, I decided to join the tens of thousands of people to bid for a Shanghai plate. Unlike many others though, we are not very eager to get one. Our attitude is just to join the bidding, and if the price is OK, we get it. If now, we give it up.
Bid for a Shanghai Plate
On Saturday, Wendy and I joined the bidding for a Shanghai plate. The price turned out to be 33900 RMB. We failed in the bidding. Our price was 34400 RMB at the last second, but it is out of the +-300 RMB range, and was rejected.
The Way Bidding Works
The procedure of the bidding is like this:
- You need to go to the government agency office to buy a bidding permit. That cost 100 RMB with 2000 RMB deposit to guarantee that you will pay the money if you win.
- You install the software on PC and join the bidding at 10:00 AM on the last Saturday of the month.
- You are allowed to place a price during the first hour (10:00 AM to 11:00 AM). At 11:00 AM, the first phase of the bidding closes. The system will broadcast the lowest winning price based on the bid it received. If you don’t place a bid, you give up this bidding, and can join the next month.
- In the second phase, from 11:00 AM to 11:30 AM, based on the current lowest winning price, you can place your bid once or twice. It requires the offer must be within the +300 RMB and -300 RMB range of the current price. With the bidding going on, the lowest winning price goes up, and so can you raise your bid along with it.
- At 11:30 AM, the auction closes, and announces the lowest bidding price
The trick is, you always need to place a bidding price higher than the lowest winning price + 300 RMB, since at the time you place your bid at the last minute, there is always a chance the price jumps up. So it is a fine art to hold the bidding as late as possible but still be able to enter it before it closes.
At 33600 RMB, we entered 34400 RMB (the lowest bidding price + 800 RMB) hoping that we can be sure to get it. But finally, when we hit enter, the price didn’t go that high, and we were rejected.
We will join the next bidding the next month and report back the result. It is a combination of strategy and luck – with luck as a very important fact.