3 ms·

Huh?

arjie 9y ago
Once upon a time, a guy bought tickets for a basketball game on Stubhub. Some months after he bought the ticket, superstar Kobe Bryant announced that it was going to be his last game. Ticket prices shot up and the buyer was thrilled that he still had a ticket. However, the seller was equally unenthused by the idea of having sold his ticket at so much under its now-increased value. So he cancelled the sale. There was a big fuss, and Stubhub gave the one buyer a ticket to the game. If you give someone a put option for some quantity on something, they then get the power to sell that amount of that something to you at a specific price. Usually, you want to get money in exchange for giving someone that power. In the markets, this is called selling someone a put option. This chap's point is that you could agree to buy a ticket for $150 to see Kobe Bryant on Stubhub. This doesn't mean you get a ticket. This just means you gave someone on Stubhub the option to sell you a ticket at $150 because if the price rises to $1500, he's going to choose not to sell you that ticket by doing what the seller did in the previous case. Since you get no money for giving the seller the power, you're not selling the option, you're giving it away for free. That's probably the context to his comment. I neither agree nor disagree with it.
- klodolph 9y ago
  This isn't just a one time thing, it's how StubHub operates. They will even "sell" tickets with no inventory and then not exercise the option if they can't fulfill it profitably.
monksy 9y ago
The other issue is that the venue for the ticket in most cases can reject you for any reason. (Typically venues don't do this.. but they will). Bought Chris Rock tickets a long time ago with the impression that they didn't have any special terms on them. Nothing unusual in the terms. The ticket was a standard Ticketmaster ticket. Showed up to the Chicago Theather this weekend and they were forcing people to put their phones in a locked bag. I didn't agree to those terms, so I refused. I got denied entry. (Btw Talked with ticketmaster support about this and they said this was an venue issue, the event didn't have any special terms attached)

Huh?

Once upon a time, a guy bought tickets for a basketball game on Stubhub. Some months after he bought the ticket, superstar Kobe Bryant announced that it was going to be his last game. Ticket prices shot up and the buyer was thrilled that he still had a ticket. However, the seller was equally unenthused by the idea of having sold his ticket at so much under its now-increased value. So he cancelled the sale. There was a big fuss, and Stubhub gave the one buyer a ticket to the game. If you give someone a put option for some quantity on something, they then get the power to sell that amount of that something to you at a specific price. Usually, you want to get money in exchange for giving someone that power. In the markets, this is called selling someone a put option. This chap's point is that you could agree to buy a ticket for $150 to see Kobe Bryant on Stubhub. This doesn't mean you get a ticket. This just means you gave someone on Stubhub the option to sell you a ticket at $150 because if the price rises to $1500, he's going to choose not to sell you that ticket by doing what the seller did in the previous case. Since you get no money for giving the seller the power, you're not selling the option, you're giving it away for free. That's probably the context to his comment. I neither agree nor disagree with it.

klodolph 9y ago
This isn't just a one time thing, it's how StubHub operates. They will even "sell" tickets with no inventory and then not exercise the option if they can't fulfill it profitably.

monksy 9y ago

The other issue is that the venue for the ticket in most cases can reject you for any reason. (Typically venues don't do this.. but they will). Bought Chris Rock tickets a long time ago with the impression that they didn't have any special terms on them. Nothing unusual in the terms. The ticket was a standard Ticketmaster ticket. Showed up to the Chicago Theather this weekend and they were forcing people to put their phones in a locked bag. I didn't agree to those terms, so I refused. I got denied entry. (Btw Talked with ticketmaster support about this and they said this was an venue issue, the event didn't have any special terms attached)