Nov 14, 2013 Well the NYPD had to choose some rich people to support.While the auction on Thursday focused on pairs of “corporate medallions,” for cabs that do not have to be driven by their owners, individual medallions have also attracted ballooning sums. Today, the average market price is more than $1 million. In November 2008, it was less than $550,000.
First link below : The Taxi Industry Is in Total Collapse: Philly medallions fetch less than 17% of asking price NY is no better. As I recall the medallions there have gone from $1m plus to around $200k in the past three years. Here's the thing: The taxi licensing system has evolved over time to accommodate all sorts of civil and financial issues, such as excess proliferation of livery, safety and licensing, legal liability, etc. Uber has never been legal but they haven't been flat-out shut down because they operate at the fringe. It's clear that something is going to change about the way we handle car hire, but it won't be 100% Uber. It won't be 100% taxi, either.