[Covenantor]

The fixed number of medallions has apparently been increased by adding handicapped accessible taxi and additional general medallions at public auction.

You are correct in stating that the medallions value is determined by market conditions in the secondary transfer market. Which of course fluctuates

[justlurking]

The fixed number of medallions has apparently been increased by adding handicapped accessible taxi and additional general medallions at public auction.

They have, but by very small numbers -- not enough to significantly increase the supply of taxis in service and increase competition.

Uber and similar services are benefiting both drivers and passengers by undermining the taxi cartel.