For those confused, COE = Certificate of Entitlement: https://en.wikipedia.org/wiki/Certificate_of_Entitlement https://en.wikipedia.org/wiki/Certificate_of_Enti

For those confused, COE = Certificate of Entitlement: https://en.wikipedia.org/wiki/Certificate_of_Entitlement https://en.wikipedia.org/wiki/Certificate_of_Entitlement "The Certificate of Entitlement or COE is the quota licence received from a successful winning bid in an open bid uniform price auction which grants the legal right of the holder to register, own and use a vehicle in Singapore for a period of 10 years. When demand is high, the cost of a COE can exceed the value of the car itself."