Ticket scalping: markets vs. mark-ups
In New York, the shady practice of scalping tickets may get a little sunshine. The governor is poised to make the practice legal, after a fashion. But is it fair to let the market decide a price?
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MARK AUSTIN THOMAS: Ticket scalping has always been kind of a shady business — people on street corners, lurking like drug dealers. But times are changing. Today, New York’s governor may sign a bill that gets rid of most scalping restrictions. So, people can re-sell tickets to the Yankees-Red Sox or Rent on Broadway for whatever price they want.That’s on the Internet — and at least 1,500 feet from big arenas. Russ Haven of New York’s Public Interest Research Group says this move is bad for fans.
RUSS HAVEN: You’re gonna see a lot of fans who are gonna either dig very deep into their pockets or they’re just gonna walk away, and only the corporate expense accounts will be able to pay for tickets.
But, of course, online ticket re-sellers disagree. Sean Pate is with StubHub.com.
SEAN PATE: People will sell what they have at a fair-market value. And that’s really what will only sell, are tickets that are fairly priced.
New York isn’t the first state to roll back it’s scalping laws. Minnesota, Illinois and Florida have already done so, and other states are considering it.