Phila. taxi medallions go unsold
Despite a lower starting price, there were no takers Wednesday for two new taxi medallions offered by the Philadelphia Parking Authority.
Despite a lower starting price, there were no takers Wednesday for two new taxi medallions offered by the Philadelphia Parking Authority.
The medallions, created to be used only for wheelchair-accessible cabs, went unsold at an auction with a minimum bid of $350,000. Last October, the PPA, planning to sell 46 medallions for accessible cabs, had set the asking price at $475,000 but attracted no buyers.
The advent of ride-share services such as UberX and Lyft have disrupted the traditional taxi business in Philadelphia, but three medallions for regular cabs sold in private transactions last month, two for $525,000 each and one for $495,000.
- Paul Nussbaum
