" Car plate auction in Shanghai receives mixed responses "
BEIJING, March 31 -- Some cheered but others
left disappointed. Bidders at the Shanghai car-plate auction on the weekend
showed mixed responses when the mean price rebounded past 30,000 yuan, fueled by
a record number of participants and the government's efforts to streamline the
process.
Those who cheered were desperate car owners
happy to get a plate with an average price lower by almost one-third than last
year's level. Others, however, felt deep regret and complained the price rise
since the January auction had exceeded their expectation.
The average successful bid rose to 32,169 yuan
while the lowest winning price climbed to 31,300 yuan, the organizer, Shanghai
International Commodity Auction Co, said on its Website.
This compared to the January result, when the
average price unexpectedly plunged to a six-year low of 23,370 yuan and the
lowest price dropped to 8,100 yuan after the city government changed the rules
and there were problems with electronic bidding.
The Shanghai government put 9,300 plates up
for sale on Saturday - the highest number since the system began in 2000,
because the auction was delayed for nearly a month due to the February Spring
Festival holiday break.
A total of 63,534 would-be plate owners, six
times more than average, joined the bidding, including many expecting prices to
mirror January's lows.
"I planned to bid 20,000 yuan based on the
results from last time," said a 27-year-old marketing employee, surnamed Zhou.
"I finally dropped my bid as prices soared."
Prices rocketed from 100 yuan to more than
18,000 yuan only two minutes after the auction started at 10am, by which time
about 20,000 people had offered bids.
Ten minutes later, the lowest price broke the
23,000-yuan barrier. It is estimated that about 12,000 bidders dropped out at
that stage.
"The prices for this month reflected the real
market expectations and could set the tone for the whole year," said Zhu Junyi,
director of an auto research department under the Shanghai Economic Committee's
Information Center.
"But the price for future months could also be
influenced by other factors, including the quota," Zhu said.
The average winning price peaked in December
last year at a whopping 56,042 yuan.
Source: [ xinhuanet ]
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