Historical prices
Boston In 2013, the price of a medallion was $625,000. In 2014, that price had risen to around $700,000. Shortly thereafter, however, medallion prices began to sharply decline. According to the Boston Herald, by the end of 2018, the value of a Boston Taxi Medallion had collapsed; after reaching an all-time high in 2014, prices had fallen to around $40,000, representing a 95% loss. Cambridge In 2014, a medallion was worth nearly $700,000. In 2012, medallion prices ranged from $87,000 to $385,000. In 2015, Chicago's average medallion price was under $230,000, down 30% from 2014. New York City The total value of all medallions and assets related to them had a value of $16.6 billion in New York City in 2013. 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%. As of 2018, one could purchase a medallion for less than $200,000. On July 11, 2019, 16 medallions were offered at auction, 3 sold for $137,000, $136,000 and $138,000; the remaining 13 failed to attract any bidders. Since many cab drivers took out loans in order to afford medallions when values were high, many have subsequently been forced to declare bankruptcy. In September 2020, Marblegate Management LLC, the largest holder of NYC medallion loans, decided to write off $70 million in debt that indigent cab drivers still owed. Philadelphia In 2005, the value of a medallion was roughly $65,000 to $80,000. As of 2018, the value was around $50,000. taxi medallion San Francisco Prices were once $250,000 but have since declined. ==See also==