Sunday, July 21, 2019

Latest Auction Results: NYC Taxi Medallion Prices Tumble Further

Crain's New York Business is reporting that 60 New York City (NYC) taxi medallions sold in auction on July 17 for $110,500 per medallion.

The auction began with a stalking horse bid of $6.5 million, or about $108,000 per medallion.

Last week, only 3 out of 16 medallions to be auctioned off were sold with the top bid of $138,000.

These prices are not good news for the National Credit Union Share Insurance Fund and suggests losses may come in higher than initially estimated.

Read more.
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