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They also have the following policy for sellers: "If your tickets have sold but you cannot fulfill the order (also referred to as 'dropping a sale' or a 'dropp
by QuotedForTruth 11y ago
They also have the following policy for sellers:
"If your tickets have sold but you cannot fulfill the order (also referred to as 'dropping a sale' or a 'dropped sale'), StubHub may charge your payment method an amount equal to 20% of the price of the ticket sold to compensate us for the losses we incur to meet our obligations under the FanProtectTM Guarantee. In some cases involving dropped sales that result in unusually large losses to StubHub (for example, dropped sales involving large numbers of tickets or tickets with significant price appreciation), however, StubHub reserves the right in its sole discretion to charge your payment method the full amount of the replacement costs StubHub incurs under the FanProtectTM Guarantee (including costs in excess of 20% of the ticket price)."
They have given themselves the ability to make this right and go after the seller for the costs of it, but they are choosing not to, screwing the buyer instead. They will of course happily pocket this 20% fee and the additional higher fees on the eventual sale of the tickets at the higher price, whether on this account or another (if the seller is banned).
"2. Buyers should be more aware of the fact that Stubhub is only a marketplace, and they are really at the mercy of the seller."
Why should buyers be aware of this when Stubhub advertises a "FanProtectTM Guarantee"?! Stubhub shouldn't be advertising one thing on nearly every page of their website and then disclaiming in their TOS.
Also, Stubhub has come out to say that they'll get this guy to the game. No mention of changing policy to make sure it doesn't happen again though.
https://twitter.com/StubHub/status/684906796813697024 https://twitter.com/StubHub/status/684906796813697024?
- michaelt 11y agoThey have given themselves the ability to make this right and go after the seller for the costs of it, but they are choosing not to, screwing the buyer instead. You're right in general, but just to nitpick: If there are only 100 real tickets to an event, and 110 tickets have been promised by StubHub, 10 customers will go without tickets regardless of StubHub's willingness to pay the market rate for extra tickets.
- encoderer 11y agoIn practice this is not how markets work. More tickets become available, even if just arb from earlier buyers, as the price increases. And regardless it's not what happened here.