Competition Flattens Medallion Prices

The Philadelphia Parking Authority regulates the sale of 1,600 regular taxicab medallions. Medallions can be sold privately or through a public auction.

Minimum Bid Prices for Wheelchair Medallions

In 2014, the Parking Authority began auctioning 150 new medallions, at 15 a year, for wheelchair-accessible cabs. Prices were set in July 2014 for the first auction in October 2014. UberX entered the market in the summer and fall of 2014.

What happened:

October 2014: No sales.

February 2015: No sales.

May 2015: The Parking Authority set the minimum bid at $50,000 to allow the market to value this new medallion category. Bids ranged from $80,000 to $110,000, with 50 bids for 61 medallions. 30 sales closed.

October 2015: The authority set the minimum bid at $10,000 to allow the market to set the value. Bids ranged from $10,550 to $11,500, with five bids on 41 available medallions. No sale closed.

July 2017: Bids ranged from $10,001 to $11,268, with 31 bids for 56 available to sell. Sales are pending.

SOURCE: Philadelphia Parking Authority

Staff Graphic