20 Feb '12, 2pm

If You Don't Understand The Value of Domain Names, Maybe You Will Understand Taxi Medallions

Last week Miami-Dade County auctioned off six new taxicab medallions and bidders paid record prices to get one. The story was covered by Local10.com the local ABC affiliate in South Florida. “The least expensive medallion was purchased with bid of $312,000; the most expensive fetched $431,000.” The minimum bid was $140,000 , the price the last Medallion was sold at. “It’s insanity,” said Joel Barbanell, president of Flamingo Taxi in Miami, who, as a taxi company owner, was not allowed to bid. “But there’s a good reason for it.” “These people who get a medallion can do what they want with it. ” “They can sell it, lease it, keep it as an investment.” Lonnie Sorkin submitted a winning bid of $430,000 for a taxi medallion and called it a good deal. “It has a lot of value,” Sorkin said. “It’s the first time in quite a while that medallions have been available.” “A cab driver wi...

Full article: http://www.thedomains.com/2012/02/20/if-you-dont-understa...

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