8,000 car plates to be auctioned this month
Print Edition
A TOTAL of 8,000 car plates will be made available for auction this month, which is the same as last month, the Shanghai International Commodity Auction Co announced yesterday.
It includes 7,400 for individual bidders and 600 for organizations, out of an annual quota of 100,000.
The monthly quota has been decided in advance — 9,000 for January, April and September to meet holiday demand, and 8,000 plates each month for the remainder of the year.
The auction for individual bidders will be held next Saturday, under a price ceiling of 72,600 yuan (US$11,862) for first-round bids that often serve as an important gauge for the second and final round of bidding.
The whole year will see the upward limit pinned at the same level as a replacement of a more flexible price ceiling mechanism that brought price fluctuations.
The auction for organizations, which will be held two days later, has no price ceiling, but has to use this month’s average winning price for private car owners as its floor price.
Last month, the average price of a Shanghai license plate went down 144 yuan, or 0.2 percent, to 73,357 yuan while the lowest winning bid fell 300 yuan, 0.4 percent, to 73,200 yuan.
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