The second Certificate of Entitlement (COE) bidding exercise in May saw a small drop in premiums for Cat A and B, while Cat E premiums increased slightly. 
Premiums for Cat B, larger cars with more than 130bhp or engine displacements larger than 1,600cc, decreased by $1,854 (3.6 percent) and ended at $49,156. 

In Cat E, the open category, prices went up by $700 (1.4 percent), with premiums closing at $49,700. 

The results of the second COE bidding exercise this month are the inverse of the previous round, with prices across all categories seeing marginal shifts back towards those of the second bidding exercise in April.

This holding pattern seems to point to a steady, unchanging demand from the market, as bids fell ever so slightly for Cat A and B. There were significantly fewer Cat E COEs available compared to last month (534 compared to 750), but the significantly reduced number of bids helps account for the minimal change in Cat E prices.