Entity linked to Marblegate appears to be behind first sizeable taxi medallion auction taking place on September 28th. We share auction details and some thoughts
50+ nyc medallions have been transferred in the past two months and about 2/3rds have gone for $125k or less. Are you under the impression that the $125k prices are perhaps all-cash and/or bulk purchases?
it comes down to rights, what were the medallion , aka taxi rights, them being the same in NYC. When the city issued the medallions, you have to have the same mindset as those who interpret the constitution, as what the original framers saw . If we do the same. We need to look at what the then mayor and city council meant by giving the street hail to medallions taxis. I would assume that it meant any person getting a ride having to do with being on the street. Obviously that included just about everything bc to get to a vehicle you would have to go to the street where the vehicle runs , period. That includes almost everything rideable, which is what they wanted. EXCEPT and I would imagine , there were the wealthy at that time who had private mansions and who had private drivers and private horse and buggies or cars. So for them they were picked up not on the street but in their private driveways . and that was legal . Think about it the mindset back then .
Hi. I'm new to this area. Can you explain why this auction is big news. I thought there were frequent auctions from medallion loan foreclosures which show up on the TLC monthly transfer report as "foreclosures". Do I understand what the TLC monthly transfer report shows? If so, how is this auction different? Wouldn't the TLC transfer report show what a medallion is worth?
Breathless! Perhaps we are beginning to move into something new!
Is the $150k minimum bid figure reasonable?
50+ nyc medallions have been transferred in the past two months and about 2/3rds have gone for $125k or less. Are you under the impression that the $125k prices are perhaps all-cash and/or bulk purchases?
it comes down to rights, what were the medallion , aka taxi rights, them being the same in NYC. When the city issued the medallions, you have to have the same mindset as those who interpret the constitution, as what the original framers saw . If we do the same. We need to look at what the then mayor and city council meant by giving the street hail to medallions taxis. I would assume that it meant any person getting a ride having to do with being on the street. Obviously that included just about everything bc to get to a vehicle you would have to go to the street where the vehicle runs , period. That includes almost everything rideable, which is what they wanted. EXCEPT and I would imagine , there were the wealthy at that time who had private mansions and who had private drivers and private horse and buggies or cars. So for them they were picked up not on the street but in their private driveways . and that was legal . Think about it the mindset back then .
When will the results of the auction be released?
Hi. I'm new to this area. Can you explain why this auction is big news. I thought there were frequent auctions from medallion loan foreclosures which show up on the TLC monthly transfer report as "foreclosures". Do I understand what the TLC monthly transfer report shows? If so, how is this auction different? Wouldn't the TLC transfer report show what a medallion is worth?