LTA monitors bidding trends closely. To date, we have not found evidence that dealers are engaging in speculative behaviour. In fact, the market practice is for cars to be sold at fixed prices to buyers before the COE is secured, including the anticipated cost of the COE. This means that dealers have an incentive to bid lower for COEs to maximise their profit margin. Preventing dealers from bidding on behalf of the buyers would inconvenience buyers, as individuals may not be familiar with the bidding process. Furthermore, banning dealers from bidding could easily be circumvented. Today, dealers already submit bids in the name of individual buyers. Should a ban be imposed, buyers could still provide their personal details to dealers to submit bids on their behalf, and it would be challenging to enforce against such a practice.