Ticket resale (or ticket scalping) 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. Ticket resale is more common in sporting events and music events.
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).
Read more about Ticket Resale: Purchase and Re-sale Methods, Criticism of Re-selling, Legal Responses, Selling Tickets By Ballot, Selling Tickets At Auction, Personalised Tickets
Famous quotes containing the word ticket:
“I view askance a book that remains undisturbed for a year. Oughtn’t it to have a ticket of leave? I think I may safely say no book in my library remains unopened a year at a time, except my own works and Tennyson’s.”
—Carolyn Wells (1862–1942)