The result of the last car plate bidding excercise revealed on the Morning Post. The latest record for a plate is 38500 RMB (4,600 USD). There is a special report on this on the Morning Post. Shanghai is famous for bad traffic condition. It is such a large city on so small area. The price of July is 36900. The raising of price for a car license (or number plate) is reasonable.
From about one year ago (not sure though), Shanghai issue the plate using the open bidding system. It is said the first bidding result price was only 1000 RMB. It was a miracle. Now the price has been too high already.
The bid excercise on every third Saturday of every week. That means, the date for the bidding will be:
To enter the bid, the bidder need to
1) Buy a bidding form at 100 RMB before the Friday morning of bid.
2) Deposit 2000 RMB – to make sure you attend the bidding. It is returned if you don’t get the plate.
3) Call into the system or go to the bidding hall to enter the bidding.
Since this auction is the bidding without base price. That means, by theory, if everyone only offer 100 RMB for the plate, then the final price for the plate should be only 100 RMB. The success bidders are determined by price (from higher to lower) and by time (from ealier to later).
This time, 4500 plates were issued, which is obviously much less than the number of participants. The city can control the number of cars by limiting the number of plate sent to market. The less the plate they send to the market, the higher the price will be.
I am considering buying a car – not very seriously, just begin to get interested to checkthe model and price. Meanwhile, I am learning to drive. Hopefully, I can get the license in two weeks. So I have to take the plate issue into consideration.
Shanghai Plate or Hangzhou/Suzhou Plate
Considering the high price of Shanghai car plate, the plate outside Shanghai is an attrative option. For example, a plate in Zhangzhou is only 200 RMB (others said it is 2000 RMB, not confirmed yet). The limitation is
- Cars without Shanghai local plate canont use the elvated highway, bridges like Lupu Bridge, and some tunnels in rush hours.
- The annual car checking is held in the place where the plate is issued
For the second limitation, it is not a big problem. Hangzhou is only 2 hours’ ride from Shanghai. I heard the rumor that this can be done in Shanghai too now – Not confirmed too.
For the first limitation, I am not sure. On one hand, I believe I will not likely to use the car to go to work – the traffic on the elevated highway is terrible (the normal roads are even worse). On the other hand, if there is something urgent, it will be very troublesome if the time falls to the rush hours.
Well. My personal oppion is that a Shanghai plate is still the best choice. Although it is so expensive now, but you can always see the trends for raising in the long run…. Is it a method of investment?
I just checked the price for a plate in Singapore – or COE (Certificate of Entitlement). The latest price is about 30,000 Singapore Dollars, according to the One.Motoring…