Prices for Car Plate Auction Drops Down Slightly for this Month

Prices for Car Plate Auction Drops Down Slightly for this MonthRecently a would be car owner needed to obtain a car plate quota through a monthly lottery or auction before getting a license plate. Now the minimum price of this month car plate quota auction has dropped to 10,800 yuan compared to 49,100 yuan last month. Meanwhile the average auctions for this month’s plate quota is at 50,600 yuan a little lower than 54,000 yuan in the last auction last month.

The city car plate quota administration center said that they are offering 4,483 quotas for individuals and corporate applicants but the number of qualified bidders has dropped from 15,694 in August down to 3,568 bidders this including 552 corporate bidders during the last auction. This resulted in a dramatic price difference of around 100,000 yuan between the maximum price offered and the minimum offer. There were six bidders got their license plates which they got at the minimum price of 10,800 yuan while a bidder was offered 108,000 yuan a plate.

Compared with the other cities such as Hangzhou, Tianjin and Guangzhou that held auctions the same time, Shenzhen saw the highest average price and the lowest minimum price. Average price in Guangzhou was at 16,886 yuan and the minimum was 13,500 yuan. Average price in Hangzhou was at 27,472 yuan and minimum at 21,500 yuan. Meanwhile average price in Tianjin was 22,391 yuan and minimum price is 15,000 yuan. Shanghai also held its own carp late auction with the average price of 82,172 yuan and minimum at 82,100 yuan only a slight difference.

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