Up to 46 NYC TAXI MEDALLIONS
09 / 11 / 2017
Monday | 1pm
up to 46 NYC TAXI MEDALLIONS
Minimum of 5 Medallions will be Sold
- Overview of Sales Process: This is a two-step bidding process. The first step is the submission of binding, sealed bids that are due Monday, September 11, 2017. The top 7 highest or best Bulk Bids and the top 25 highest or best Individual Bids will be invited to bid at the live auction (subject to the Terms & Conditions of Sale approved by the bankruptcy court) on Monday, September 18, 2017. Please Note: If two equivalent bids are received, the best bidder will be identified as the first bid received.
- Sealed Bid/Bidder Qualification Deadline: Monday, September 11, 2017 before 1:00 pm. Required Bid Documents (Signed Terms and Conditions of Sale & Bidder Identification and Offer Form) and 15% Deposit (cashier’s check) must be included for consideration. See attached Terms & Conditions of Sale for details or call David Constantino (x205) or Richard Maltz (x202) for additional information.
- Sealed Bid Delivery Location: Richard Maltz, Maltz Auctions, Inc., 39 Windsor Place, Central Islip, NY 11722; with copies to LaMonica, Herbst & Maniscalco, LLP, Attn: Jacqulyn S. Loftin, Esq., 3305 Jerusalem Avenue, Suite 201, Wantagh, NY 11793.
- Auction Date & Time: Monday, September 18, 2017 at 11:00 am (Registration commences at 9:30 am). Only Qualified Bidders as defined in the Terms & Conditions of Sale are qualified to participate.
- Auction Location: New York LaGuardia Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369.
- Terms & Conditions of Sale: Medallions are sold free and clear of all monetary liens. All prospective bidders must include a cashier’s check in the amount of 15% of the bid amount made payable to “Gregory Messer, Chapter 7 Trustee”. The Trustee reserves the right to require potentially qualified bidders to bring an additional deposit (cashier’s check) to the live auction to increase their respective deposit to a total of 15% of the highest sealed bid. Please download the complete Terms & Conditions of Sale.
- Buyer’s Premium: A six (6%) percent Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.
- Buyer Broker Participation: A two (2%) percent commission will be paid to any properly licensed New York City Medallion Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.