[LINK] ebay and ticket scalping result

[Adam Todd]

At 01:59 PM 18/12/2006, Brendan Scott wrote:
>Jan Whitaker wrote:
> >
> > Ebay won. It's just now on the ABC news.
> > Big Day Out can't cancel the tickets because they can't be sure the
> > tickets were resold.
> > The judge wasn't happy about scalping, though, because of a false
> > shortness of tickets through scalper buy-ups.
>
>Has anyone ever analysed scalping in any detail (and whether it is overall 
>good or bad for punters)?  Surely if the scalpers buy up too many tickets 
>they may find that they've overpriced them and will need to sell at a loss?

Sadly punters are just that.  Unintelligent, wanting and willing to pay any 
price for what it is they want.

Kellyville in Sydney is an example of punters buying new homes and then new 
everything to go with it.  ON INTEREST LOANS exceeding any possibility they 
can repay when called to.  Kellyville is now known as "Repossession City" 
and "Auction City"

Sadly people will walk into the first furniture store they see, usually the 
one with the biggest signs and the biggest frontage and the greatest floor 
space, and buy a lounge for $4,500 when the sales man says "Pay now, 
delivery in time for Christmas."

Next door in the smaller shop that has a select range carrying exactly the 
same lounge for $1,800 misses out of the sale.

People aren't smart.  They want something they will pay ANY price.  After 
all what's a credit card for if you can't spend the maximum amount?

Getting a loan, credit card, or mortgage isn't about being in debts, it's 
about the artificial "ownership" of something you could not ordinarily 
afford at the time you see it.

Most people seeking a mortgage borrow up to and beyond a realistic 
maximum.  Here my wife and I are, trying to find a mortgage for around 
$150,000.  We can't get it, because no one does them that small!  Not 
enough fees, not enough interest and we'd pay it off in 5 years which is 
bad for business.

I'd doubt very much Scalpers of BIG DAY OUT tickets will sell at a 
loss.  Not unless the public wake up to themselves and say " Well gee, no 
tickets left for $100 bucks, that's what the tickets are worth, so I'm not 
buying any for more than that"

If the scalpers sell them for say $150 each they can afford to sell one in 
four for nothing and at least break even.