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It would be nice if resellers were required to prove that they actually have tickets in hand before advertising. Many times these resellers work as brokers tryi
by donarb 9y ago
It would be nice if resellers were required to prove that they actually have tickets in hand before advertising. Many times these resellers work as brokers trying to match buyers and sellers and buy tickets after getting offers, leaving some buyers out in the cold when tickets don't materialize. Also maybe require proof of actual rows and seats on the tickets, if they don't match, when buying allow the buyer to back out of the deal.
- xenadu02 9y agoA large number of resellers are directly connected to the venue and artist management. Artists don’t want to be seen as too greedy, yet their contract has guaranteed payouts that simply aren’t possible given the venue size times # of seats. By directly routing most tickets to resellers they can charge way more than the face price of the ticket while shifting the blame to the resellers. In some cases the artists are aware, in others their manager doesn’t discuss it with them (but presents bigger paychecks as proof of how great their management skills are). There is zero desire on the part of anyone involved to stop the practice, other than a few artists that really do care about fans and are willing to take a pay cut (eg Bruce Springsteen).
- kinkrtyavimoodh 9y agoThere is a lot of human psychology at play here which I find interesting. The fact that people are willing to pay above-face-value for these tickets implies that there IS a market for them, and so it means the face value is underpriced. However, if the original pricing was indeed the high price at which the market cleared, people would consider it as greed on the artist's part. So we end up in this bizarre scenario where people are happy to overpay a faceless middleman for watching an artist rather than pay the artist themselves.
- stephenhuey 9y agoThis was covered very well in the December 6, 2017 Freakonomics podcast. I was very surprised!
- michaelt 9y agoA large number of resellers are directly connected to the venue and artist management. Interesting, I didn't know that. Where can I learn more?
- aiCeivi9 9y agohttp://freakonomics.com/podcast/live-event-ticket-market-screwed/ http://freakonomics.com/podcast/live-event-ticket-market-scr... If anyone actually wanted to stop ticket scalping they would put buyers name on tickets and only allow reselling on primary site, for face value. No hi-tech required. This is what train service I use did after people tried to buy all and resell reduced price tickets.