Tuesday, January 28, 2014

The next NYC Taxi Medallion Auction is February 26, 2014.

The second in the current round of medallion auctions promises to be quite different from the first. The first auction had a record high price offered. Those medallions however were mini fleet or corporate medallions. The big boys themselves went in deep with Medallion Finance under Andrew Murstein buying 60 of the 200 that were sold in what was in part a signal of hope in the new mayor. That was then. The auction in February is of  medallions that only drivers may buy which leaves Mr. Murstein out.

The highest bid accepted for 2 medallions last November 14 was $2,518,000. The lowest winning bid got no love in the news- it was half a million less. Half a million is a lot of cake. 

Average prices for owner driver medallions have not budged in months for these. Let' s see how this one goes.