Pair of New York City taxi medallions sells for $2.5 million
{{#rendered}} {{/rendered}}MV-1 wheelchair-accessible taxi (VPG Autos)
A pair of New York City taxi medallions sold at auction for a record $2.5 million.
The Taxi and Limousine Commission on Thursday sold 100 pairs of medallions for wheelchair-accessible cabs.
TLC Commissioner David Yassky told the New York Post that people in wheelchairs have historically had no access to the taxi and car service industry.
{{#rendered}} {{/rendered}}There currently are 233 handicapped-accessible taxis in the city.
The medallions that sold Thursday were expected to almost double the fleet of wheelchair-accessible cabs.
It was the city's first medallion auction in over five years. The city plans to auction some 2,000 more medallions for handicapped-accessible vehicles in the next three years.
{{#rendered}} {{/rendered}}At its 2008 auction, the highest bid for a pair of handicapped-accessible medallions was a little over $1.3 million.