Concert Tickets and Scalpers

by fwhagen Wed, 21 November 2007

Someone help me, please.  I don't understand why scalpers are "evil profiteering bastards" and Ticketmaster and the venues are not.  What is wrong with buying any commodity and selling it to someone else at a higher price?  It works well on Wall Street, why not in entertainment.

"Face Value" is a myth.  The value of an object is the price you can assign that object and find a buyer for it.  If I buy a comic book for $1 and sell it to you for $50, then it has a value (to me and you) of $50.  If someone buys 10 tickets to Hannah Montana for $50 each and sells each one for $150 each, what is the value of those tickets?  "But the scalper is not a fan, he should not be able to buy tickets."  Why?  Give me one rational, valid reason.  The scalper is no different than any other commodity broker.  He takes a risk and typically reaps reward; but only if the market will bear it. 

If you don't like the tactics of the scalper, fine!  I don't either.  Don't buy from him.  But know that if you do, you validate his business model, and therefore condone his action.  On the other hand, I guarantee that when it is no longer profitable, rather it becomes unprofitable, the practice WILL cease.  Do not force legislation, do not cry about it.  Stop supporting them, and they will go away.

By the way, the people you should be angry at are the ones who paid $1000 for tickets to Hannah Montana.  Shame on them.

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