NYCLifeinaFishbowl
By
Antony Chow
Today's
comic:
Commentary:
The New York Post reported Friday that 2 taxicab medallions sold for a
record $554G each at a city auction. These medallions are
licenses to operate yellow cabs in New York City.
Wow! It's simply amazing how much the medallions are going for.
The Post article noted that they've been going up 12% in value
each year. Partly because so few medallions change hands.
That makes sense---apparently the demand far outpaces available
supply.
Nonetheless, it remains to be seen whether the winning bidders will make their money back on these investments.
