Any1 goin to Snowchella? Jan 27, 2011 14:37:01 GMT -5
Post by squatchcreep on Jan 27, 2011 14:37:01 GMT -5
Read This: www.seattlepi.com/local/241115_scalpers17.html
Ticket resale is the act of reselling tickets for admission to events. Tickets are bought from licensed sellers and are then sold for a price determined by the individual or company in possession of the tickets. Tickets sold through secondary sources may be sold for less or more than their face value depending on demand, which itself tends to vary as the event date approaches. When the supply of tickets for a given event available through authorized ticket sellers is depleted, the event is considered "sold out", generally increasing the market value for any tickets on offer through secondary sellers.
By contrast during the 19th century, the term Scalper was applied to railroad ticket brokers who sold tickets for lower rates.  Scalpers sell tickets for high rates because there is more demand for tickets at the low sales price than available tickets. Hence the resort to other forms or rationing like standing in line or lotteries.
Ticket resale is a form of arbitrage that arises when the amount demanded at the sale price exceeds the amount supplied (that is, when event organizers charge less than the equilibrium prices for the tickets). While widely accepted in the United States as a convenient means of obtaining sought-after or rare tickets, this practice remains mostly condemned in European societies where access to cultural and entertainment events is still considered a right of low-income groups.
Ticket resellers use several different means to secure premium and previously sold-out ticket inventories (often in large quantities) for events such as concerts or sporting events. Established resellers often operate within vast networks of ticket contacts, including season ticket holders, individual ticket resellers and ticket brokers. They make a business out of getting customers hard-to-find and previously sold-out tickets that are no longer available through the official box office.
Ticket scalpers work outside events, often showing up with unsold tickets from brokers' offices on a consignment basis or showing up with no tickets at all and buying extra tickets from fans at, or below face value with their own money on a speculative basis hoping to resell them at a profit. There are many full-time scalpers who are regulars at particular venues and even have a pool of loyal buyers. These full-time scalpers are often sought out by fans hoping for a last minute deal and are comfortable buying from a familiar face.
Often, scalpers will wait for a specific time to begin selling the tickets, to maximize the profits associated with supply and demand. When scalpers wait until the final days before an event to resell tickets, it is sometimes called a scalp seeding.
Individuals who genuinely wish to attend a popular event may find themselves unable to get tickets, as they have already been sold to ticket resellers. This practice enables the ticket resellers to sell the tickets at market value, with no effective loss because they had no intention of attending the event in the first place. On the other hand, if the resellers buy the tickets and the tickets are not then sold out, then they risk a loss. Resellers also argue that there is a fine line between the individuals who genuinely wish to attend a popular event (and decide to sell on their tickets later) and those that buy tickets in large quantities in order to resell their tickets for a hefty profit. The practice of reselling tickets may be defended on free market principles although some countries have outlawed the unauthorized resale of tickets.