> Two buyers might try for the same exact seats at the same moment, but that is much less likely in a slow single-bid auction like this
Well except that everyone would try to grab the very last ticket, which would be the cheapest.
How to sell tickets fairly
41–50 of 363 posts
Re: How to sell tickets fairly
#42Make it a lottery. A toy example, instead of selling 10,000 tickets that sell for $1000 sell 500k “lottery” tickets for $20 each. A lucky 10,000 get to the concert. The artist/venue makes the same amount. Everyone gets a chance at seeing the artist for a reasonable price. Would work for very popular artists with young fans like T Swift. Lottery tickets would need to be non-transferable as well.
Re: How to sell tickets fairly
#43I don’t understand at all why prices aren’t raised in these severe demand/supply imbalance situations. Same applies to PS5 etc There wouldn’t be a shortage at all if it were priced appropriately. And scalpers just end up capturing that value anyway
Sometimes promoters hold tickets and put them on the secondary market themselves. But they sell tickets to scalpers as a way to gaurantee a certain level of profit. Which lowers their risk of losing money, especially when spread over a large amount of events. The scalper business model is to buy risk from the promoter, and then selling the convenience of not planning ahead to consumers. Said differently, If promoters…
Yes, or could simply be a live market for the tickets where people can put in limit orders etc. Then would converge to fair market value quickly and people would still have the option to bite the bullet and pay the higher prices.
Though volume/liquidity would be at question, but bots/arbitrage would hopefully help there.
If they really want to set artificially low prices and prioritize fans over scalpers then they need a queue and a process by which they verify the queued person is human. Lots of labor involved. Though maybe using SSN (in the US) to limit tickets per buyer?
Re: How to sell tickets fairly
#44Make it a lottery. A toy example, instead of selling 10,000 tickets that sell for $1000 sell 500k “lottery” tickets for $20 each. A lucky 10,000 get to the concert. The artist/venue makes the same amount. Everyone gets a chance at seeing the artist for a reasonable price. Would work for very popular artists with young fans like T Swift. Lottery tickets would need to be non-transferable as well.
[deleted]
Re: How to sell tickets fairly
#45The obvious fix to bots and scalpers is just to not allow ticket transfers - you give your name when you buy the ticket and show your ID at the door. Why this isn't the current process is left as an exercise to the reader.
"Papers, please." How could it be done without invading privacy?
I'm not sure it can be easily.
However, many venues were already checking ID for over 18/21 shows and also covid test results during the pandemic.
Also regular buyers already have to provide contact and payment info (usually very personally identifiable.)
Some venues have tried to fight scalping by requiring presentation of the card used for payment - though obviously that disadvantages cash buyers and scalpers can still use burner cards which they provide with the ticket.
Re: How to sell tickets fairly
#46I don’t understand at all why prices aren’t raised in these severe demand/supply imbalance situations. Same applies to PS5 etc There wouldn’t be a shortage at all if it were priced appropriately. And scalpers just end up capturing that value anyway
They are. Ticketmaster does dynamic pricing now for big shows. Accurate pricing is basically inaccessible beforehand; there’s no chart like in the past with various sections costing specific $s. For the Taylor Swift show in Seattle they published a range of ticket prices from $49-$199… we paid ~$600 for seats in section 131 that were VIP seats by default (that also added to the price; but the pricing was totally opaque).
Re: How to sell tickets fairly
#47An NFT solution to ticketing seems like it would be trivial given how NFTs operate already. One ticket could be verifiably owned by one person. If that person wanted to resell the ticket, there could be restrictions on how much they could sell it for. If bots can't make a profit there's no use in buying out all the tickets. It would also decentralize the space. Sure you need a marketplace for the NFT tickets, but that could easily be a open source software suite that the venues themselves host. Gas price will probably be a lot less than ticketmaster fees.
Honestly it seems like the biggest problems here are that Ticketmaster in particular has a huge sway in the current venue and artist market, having contracts that require an artist or venue to exclusively use their ticketing system.
Re: How to sell tickets fairly
#48It seems like this would produce the same outcome as Ticketmaster's dynamic pricing. According to this article, fans hate it [1]. [1] https://www.vice.com/en/article/m7gx34/blink-182-tickets-are...
Interesting, thanks for the link. Similar outcomes perhaps. I guess the difference is that the auction clock is public so it may feel a little less arbitrary than an opaque algorithm.
Re: How to sell tickets fairly
#49Earlier quoted context omitted.
I went to a concert that requires you to match your ticket, but allowed you to sell tickets on a site they control for the face value. I think the buyer has to pay a transaction fee as well. I got the tickets by signing up and they took my credit card, and charged me when I was next in line and someone had tickets for sale. It was pretty neat, though I suspect I lucked out because a bunch of people sold their tickets…
"I will sell you this ticket on the marketplace for $facevalue if you will paypal me $500 - $facevalue"
There was no market place. Just fifo queues of people willing to buy tickets, and tickets for sale. that constantly works its way down to atleast one of them being 0.
I signed up for the main concert and a few of the after parties, and over the next month I got emails saying I had purchased tickets for the various events.
Re: How to sell tickets fairly
#50Or, you release tickets for auction starting from 6 months prior slowly. Whatever the auction price is, that's what they are sold for. Start with the best seats, then the auction results might inform buyers how to bid on the next seat.