Taxi Medallions
What’s the deal with Taxi Medallions? The last five years or so they’ve been trading for astronomical figures? Anyone that deals in Alternative investments can you speak to how they work also with any information as well about them as an investment.
Haven't they tanked due to Uber/Lyft?
In 2005, an individual medallion was around $325,000 while a corporate medallion was approximately $375,000. Around 2010, the market value of a medallion was around $600,000. It peaked around 2013 at over $1,000,000. Between 2014 and 2015, New York City's non-corporate medallion price dropped 45%.
Since they started becoming a thing I’ve read that as well. I saw a New York post article today and just wondered what made them an attractive investment in the first place.
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