Posted on 10/23/2007 5:33:39 AM PDT by suspects
Since scalpers only deal with the price for the excess demand it actually is a good economic model.
Presumably, the promoter sets its price at a figure it determines will generate the most revenue and keep regular customers happy. If the promoter under prices its tickets, there is going to be excess demand. How this excess demand is treated is what scalping is all about. Even if the promoter was able to insure that say, no more than any individual could buy more than 2 tickets, some of those who did not get tickets will pay extra and some with tickets will decide the premium is worth it and will sell and pocket the profit.
Since there is a happy buyer and seller, why should this be illegal.
If some enterprising business person is willing to pay people to stand in line all night to purchase tickets for later resale, hasn't he performed a valuable service to those individuals who want tickets but do not want to stand in line all night?
Shouldn't he be entitled to a premium for his forsight, and risk?
If the promoters want to do this, they could easily enforce it. Sell tickets to specific people, with the name printed and/or bar coded on the ticket. Check IDs at the door and if your ID doesn't match your ticket, you don't get in.
Alternatively, you could associate the ticket with the credit card used to buy it. The card has to be swiped at the door when the ticket is scanned to make sure the card holder is present. That might be easier for kids' shows like this one where the children wouldn't have ID but the parent would have bought the tickets for the whole group.
If the promoters want to dictate the price, they need to find a free-market solution to ensure their product is used by the people to whom they sell. Airlines have done it for decades. But if they choose to permit their product to be used by anyone (and another poster indicated that some promoters prefer it that way, for less than above-board reasons), then the free market should determine the price. The people for whom the tickets are worth the most will get them, because they'll be willing to pay the most for them. This is how efficient free markets work. If you forbid it, you have some people who would rather have the true cash value of the tickets but have to use the tickets, and you have others who would rather see the show than hang onto their money, but they are also prevented from getting what they want.
It’s sad that some kids won’t get to see this show, but hey, life is full of disappointments. I hear some parents nearly crying as they talk about how their child’s life is ruined because they can’t see Hannah Montana - good grief.
Sounds like a waste of time to me.
You are an idiot. Did I once even mention anything about Hannah Montana. Is that what you really thought I was talking about? If it is then I completely understand your general ignorance of the matter.
I wanted tickets to see Tool on December 1st here, and tried to win the local radio contest, but had my usual luck, and was prepared to bite the bullet and buy a couple of tickets. The tickets went on sale at noon on Friday. The show was sold out at 12:20pm.
It looks like I’ll just be sitting at home that Saturday, because I sure as shooting ain’t gonna pay more than $80 for that show.
The Scorps were probably better anyway...
So in order to keep the “regular Joe” in affordable seating, you will institute “fairness” controls over the economics of the market.
Actually, that is called fascism unless you are going to have the state own the tickets in the first place, then it is socialism.
That does not jibe with being a freeper. Freepers know that life is life and is not always “fair”. Some choices make things like concert tickets beyond our budget.
Yeah, mine was ruined not long ago when a show for a musician I wanted to see sold out not long ago. I wept for months. (sarcasm, as if you didn’t know)
This is what is going to happen. It is already happening. During the last World Cup in 2006 tickets were sold to specific people with the name of the purchaser on the ticket. ID's were checked against the name on the ticket before entrance to a stadium was granted. It's unfortunate because this sort of thing costs money to enforce and raises ticket costs, but at least it doesn't raise the price to anywhere near the extent that these scalpers do. I for one wouldn't mind seeing arenas and event promoters institute widespread implementation of this.
Might I suggest an economics course as your next step?
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When I read your first post on this topic (#37), I was going to suggest you do the same.
What do your economic texts say about businesses who cheat the system (software that allows brokers to cut in front of individual buyers), allowing them to artificially reduce supply? Typically, when one discusses the laws of supply and demand (in theory), there is an assumption of a level playing field, which is not the case here. The individual consumer (for whom the product is intended) is at a serious disadvantage as compared to the broker using the software.
There is a court case currently addressing this issue. See my post #29 for a link to the article.
Cheating the system kind of screws with normal economic activity, doncha think?
Just a thought.
If some enterprising business person is willing to pay people to stand in line all night to purchase tickets for later resale, hasn’t he performed a valuable service to those individuals who want tickets but do not want to stand in line all night?
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Again, this is gross oversimplification. The brokers are using software to push to the front of the virtual line, and pushing regular consumers to the back.
Another thougthful response. Again, thanks.
There is no level playing field, doncha think? The sellers can fix these problems, if they want to. Just a thought.
Oh please. Enough with the drama queen routine.
Tickets for events such as these are sold through approved, contracted vendors. If the promoter of an event wanted people spending $500 for a nosebleed seat to see a game or concert they wouldn’t contract the vendors to sell them for $25. The only place legally allowed to sell tickets to these types of events are the places that are contractually authorized to do so.
And the reason why many promoters do not want to sell tickets to events for what the scalpers (price gougers) do is because it is their client’s (sports team, entertainer, musician) reputation on the line and doing so would only alienate a major portion of their audience and give the impression that this particular performance is off limits to them. The promoters obviously don’t want that based on the the fact that they put a pre-determined price on the the ticket. This, among other things, is why scalping tickets is against the law.
read my other respones, of which there are many on this thread. I don’t feel like repeating the same thing over and over again to you.
See post #70. They are starting to fix the problem since it has gotten so out of hand.
OK, so I will. If the price of a luxury item (like concert tickets) is run up, it is because the buyer is WILLING to pay that price. I doesn't matter how the seller got them. End of story.
There is no level playing field, doncha think? The sellers can fix these problems, if they want to. Just a thought.
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I guess that’s my point, why discuss the theory of supply and demand at all if we’re gonna let cheats rule the day. Make no mistake about it, that’s what the broker software does. And the court case in question is addressing exactly that, how to fix the problem (which is an obvious recognition that normal market forces are not at play).
And if normal market forces are not at play, then discussions about supply and demand are pretty unenlightening.
I hear you. But, my original (and only) point on price is that no one makes a "jacked up" price a reality without the buyer's consent. I might be worried about cheaters selling heating oil or food, but not concert and sporting event tickets.
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