The average auction price of a car license plate in Shanghai rose 13.9 percent to 83,723 yuan (US$13,731) on Saturday after falling six months in a row, Oriental Morning Post reported Sunday. The latest auction drew 28,887 bidders, driving prices past 80,000 yuan for the first time since the city government canceled the warning price mechanism for this month, the report said. The lowest price was 82,300 yuan, up 8,900 yuan from the previous month. The Shanghai Municipal Transport and Port Authority said the percentage increase was higher than the 6 percent trigger for a warning price of 74,900 yuan which will be adopted in November and December, the report said.
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