We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

MSE Blog: Reselling tickets for profit: Legal ticket tout or money making genius?

Options
2»

Comments

  • esuhl
    esuhl Posts: 9,409 Forumite
    Name Dropper First Post First Anniversary
    edited 11 March 2015 at 7:37PM
    Options
    Read my post above for an answer to the question you pose.

    It was a rhetorical question. Anyway, just because the promoters want to sell the tickets for less than the market value, it doesn't mean that it is immoral to sell them with a markup.

    Surely it's more moral for food to be sold below market value than entertainment tickets? Allowing poor people to feed themselves more affordably means fewer will go hungry. That's got to be a goal with moral value. But saving the middle-classes money on frivolous entertainment...? I can't see how morality really comes into it.
    johnmcga wrote: »
    Because touts are artificially inflating demand and distorting the market.

    It's very hard to tell how much demand there really is when a gig sells out in seconds because touts are buying tickets in large quantities.

    Touts are not artificially inflating demand or distorting the market! Not significantly, anyway. If they were they'd lose money by being unable to sell the tickets they'd bought. The optimum situation is that every ticket is sold for the highest price the market can sustain. Of course that won't happen perfectly every time since no one has a crystal ball.

    What happens when the promoters try to sell the tickets at far less than market value? They artificially inflate demand and distort the market. Ticket touts correct this.
  • sb65
    sb65 Posts: 107 Forumite
    Options
    This is so frustrating and is an opportunity missed. IMO ticket touts are the lowest form of pond life and I would love to see them put out of business by making it illegal to sell tickets over face value.

    You should take your meds pal. You should concentrate on the frustrations of your own abilities rather than worry about anyone else. In my opion there are many other professions that are worse than this that delve into items of necessity (trafficing, drugs, etc) rather than touts that deal basically in a luxury that most people dont really need. Perspective.
  • TBagpuss
    TBagpuss Posts: 11,205 Forumite
    First Post First Anniversary Name Dropper
    Options

    The simple way to prevent this activity would be for venues and ticket outlets to take ID details at the time of booking, and check these details at the point of entry to the event.

    Simple, but time consuming. The Barbican has stated that this is the policy for the (sold out) Production of 'Hamlet' starring Benedict Cumberbatch. There were warnings both before and during the booking process that the person who made the booking must be present with ID and that ticket holders may be turned away if this is not complied with.

    It does present certain problems other than the extra time it will add to getting people into the venue. What happens if you want to buy tickets as a gift? What if the 'lead person' is unable to attend? it seems a little harsh that 5 of my closest friends will miss out on seeing Mr Cumberbatch if I carelessly develop acute appendicitis or am otherwise prevented from going...
    I suspect that the theatre may end up doing random checks, rather than checking everyone, but I might be wrong!

    I think perhaps a better method is to limit the number of tickets which can be sold to any one buyer.

    (I do agree, by the way, that reselling at huge mark ups is a problem. And on the few occasions when I have had a ticket I couldn't use, I've always passed it on at or below face value)
    All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)
  • paddyrg
    paddyrg Posts: 13,543 Forumite
    Options
    Completely misses something important - promoters are not stupid!

    The face value of the tickets is what's used for negotiating acts fees. By releasing a first tranche at that price, they create artificial increased demand/'value', then sell directly through the secondary channels at whatever the market will bear. They'd be mad not to. Basically, the reason your tickets are for sale in bulk on the secondary markets isn't necessarily touts, they're chopped out of the equation.
  • musemad
    musemad Posts: 177 Forumite
    Options
    Funny thing is i love ticket touts and they provide me with an endless stream of tickets at a third or maybe a quarter of face value :j
    I live close to a large music venue and just turn up ten minutes b4 a band comes on - the touts always seem to have loads of ticket 4 sale at that time and virtually chuck them at you to get rid of them .
    I have never failed to get in and never paid anywhere near the rip off full price for any tickets.
    LONG LIVE THE TOUTS:T
  • paddyrg
    paddyrg Posts: 13,543 Forumite
    Options
    They're perishables, just like raw chicken ;-)
  • Sharon87
    Sharon87 Posts: 4,011 Forumite
    Name Dropper First Anniversary First Post
    Options
    esuhl wrote: »
    It was a rhetorical question. Anyway, just because the promoters want to sell the tickets for less than the market value, it doesn't mean that it is immoral to sell them with a markup.

    Surely it's more moral for food to be sold below market value than entertainment tickets? Allowing poor people to feed themselves more affordably means fewer will go hungry. That's got to be a goal with moral value. But saving the middle-classes money on frivolous entertainment...? I can't see how morality really comes into it.



    Touts are not artificially inflating demand or distorting the market! Not significantly, anyway. If they were they'd lose money by being unable to sell the tickets they'd bought. The optimum situation is that every ticket is sold for the highest price the market can sustain. Of course that won't happen perfectly every time since no one has a crystal ball.

    What happens when the promoters try to sell the tickets at far less than market value? They artificially inflate demand and distort the market. Ticket touts correct this.

    Well that's total nonsense.

    Not all ticket buyers are middle class! But they would be if venues sold at a higher price. Gig tickets could be anywhere between £25 and £100 at face value.

    If a venue of 20,000 sells out and about half the tickets go to ticket touts, then 10,000 people could be paying more than the tickets should be. Most of those people who tried to get tickets may be working class people trying to get tickets for their kid's birthday, which they could afford at face value, but can't afford at the inflated price, or they buy them and stick it on a credit card.

    It is a moral issue, lots of people are denying thousands of people at a time a chance to see their favourite bands. No one would buy a theme park ticket for example and sell it for extortionate price, so why do it for gigs?

    I believe ticket reselling should be restricted so it covers the costs of the seller - so face value, booking fees and postage.

    For AC/DC me, my brother and sister in law all decided to try and get tickets for it, thinking it would be hard and only one of us would get them, but we all got tickets! So we sold them to our friends at face value, who didn't get tickets.
  • Sharon87
    Sharon87 Posts: 4,011 Forumite
    Name Dropper First Anniversary First Post
    Options
    musemad wrote: »
    Funny thing is i love ticket touts and they provide me with an endless stream of tickets at a third or maybe a quarter of face value :j
    I live close to a large music venue and just turn up ten minutes b4 a band comes on - the touts always seem to have loads of ticket 4 sale at that time and virtually chuck them at you to get rid of them .
    I have never failed to get in and never paid anywhere near the rip off full price for any tickets.
    LONG LIVE THE TOUTS:T

    Good for you! It's like buying reduced items at the supermarket lol.

    But they probably made a lot of money out of other people! I remember being in the queue for a gig to get in, and a tout tried to buy my ticket from me for a fiver - it cost me £20. He kept pestering me until I told him to F off!
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 12 Election 2024: The MSE Leaders' Debate
  • 344.1K Banking & Borrowing
  • 250.4K Reduce Debt & Boost Income
  • 450.1K Spending & Discounts
  • 236.3K Work, Benefits & Business
  • 609.6K Mortgages, Homes & Bills
  • 173.5K Life & Family
  • 248.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards