Taxicab Medallion

Medallion Auction

Bid Package and Instructions

  • Bid Form - No auctions scheduled at this time
  • Bid Submission Form - No auctions scheduled at this time
  • Instruction Guide for Bidding - No auctions scheduled at this time
  • Closing Instructions - Read Closing on a Medallion (PDF)
Minimum Bid Price

The Minimum Upset Price is the minimum amount that will be considered valid.  The highest valid bids will be named apparent winners.  Any bids below the Minimum Upset Price will be rejected as being non-responsive.

New York City Taxi and Limousine Commission (TLC) Commissioner will determined the Minimum Upset Price at least ten(10) days before Bid Collection begins

Commitment Letters

Persons interested in bidding in the upcoming auctions for taxicab medallions, are reminded that responsive bids MUST include a commitment letter.  The commitment letter must:

  • Be in an amount not less than 80 % of the bid amount.  If any bid is received with a commitment letter in an amount less than 80% of the bid amount, the bid will be rejected at the opening as non-responsive.
  • Be from a bank or credit union licensed to do business in the State of New York or other lender licensed by the State of New York or Federal Government.
    • Any commitment letter from any entity that does not include in its name “bank:” or “credit union” will be presumed not to be a licensed lender UNLESS evidence of licensure is included with the commitment letter.  If a bid is received with a commitment letter from a non-bank or credit union entity without evidence of licensure, the bid will be rejected at the opening as non-responsive.

Broker Directive and Information

Approximately one to two weeks before the auction, the TLC will issue a directive (via both certified mail and Industry Notice) to all TLC-licensed brokers requiring such brokers to advise the TLC, by no later than the first date set for bid collection of the names of each owner, principal, shareholder, member, partner and employee of such broker at any time during the five years prior to the date of the first publication in the City Record of Notice of the Auction.

The TLC will compile a list of all persons identified as a result of this directive.

Submit completed PDF document to by the date listed on your directive.

Environmental Impact Statement

City Environmental Quality Review (CEQR) is New York City’s process of implementing the New York State Environmental Quality Review Act, by which agencies of the City of New York review proposed discretionary actions to identify and disclose the potential effects those actions may have on the environment.  For more information please visit the Mayor’s office of Environmental Coordination at NYC Mayor's Office of Environmental Coordination.

Current and Past Auction Results

Related information: