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.
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