Chicago auctions 50 taxi medallions for $3.9 million
Published December 29th, 2006
The city of Chicago has auctioned 50 taxi medallions.
The average price paid for the medallions was a record 78-thousand-509 dollars. The highest bid was 81-thousand-and-two dollars, while the lowest was 60-thousand dollars.
The highest price paid at auction just two years ago was 47-thousand-500 dollars.
Chicago’s Department of Consumer Services received 204 bids total for the month-long, sealed-bid auction.
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