In every inner product space H the Ptolemy inequality holds: the product of the diagonals of a quadrilateral is less than or equal to the sum of the products of the opposite sides. In other words, ‖ x − y ‖ ‖ z − w ‖ ≤ ‖ x − z ‖ ‖ y − w ‖ + ‖ z − y ‖ ‖ x − w ‖ for any points w , x , y , z in H . It is known that for each normed space ( X , ‖ ⋅ ‖ ) , there exists a constant C such that for any w , x , y , z ∈ X , we have ‖ x − y ‖ ‖ z − w ‖ ≤ C ( ‖ x − z ‖ ‖ y − w ‖ + ‖ z − y ‖ ‖ x − w ‖ ) . The smallest such C is called the Ptolemy constant of X and is denoted by C P ( X ) . We study the relationships between this constant and the geometry of the space X , and hence with metric fixed point theory. In particular, we relate the Ptolemy constant C P to the Zbăganu constant C Z , and prove that if X is a Banach space with C Z ( X ) < ( 1 + 3 ) / 2 , then X has (uniform) normal structure and therefore the fixed point property for nonexpansive mappings. We derive general lower and upper bounds for both C P and C Z , and calculate the precise values of these two constants for several normed spaces. We also present a number of conjectures and open problems.