f*** ticketmaster. My own ticket rep has advised me to never look to resell on that app, because their own analytics say that secondary market is dead due to excess fees.
That’s a huge part of it. Say I have an $85 ticket (which is what the cheapest seats are right now), I also have to pay taxes on that which comes to $91 and change. Say I go to sell that on Ticketmaster for $100, they’re going to take $10 of fees out of the the sale. I end up with -$1 on a ticket that went up in value by $15.
People that have never resold a ticket before… read that paragraph again. My ticket increased in value by nearly 20%, and
I lost money between taxes and Ticketmaster fees.
Meanwhile, some guy comes along to buy my ticket. He’s paying $100 for the ticket, $7 in taxes, $11 in service fees, and a $5 processing free for a total of $124.
So the buyer is paying $124 for an $85 (or generously $91) ticket…
but none of that extra $41 went to the reseller. In the series of transactions, the buyers paid $17 in taxes and Ticketmaster pocketed $26.
You want to know why there are empty seats at playoff games, this is why. It will be called a sellout because the tickets were actually sold to
somebody, but they remain empty because there’s no resale market whatsoever at these price points. It’s not the scalpers that are the issue here, it’s Ticketmaster acting like a scalper while having (by their own measure) only $5 worth of actual investment in the process.
Congress should have broken up this bullshit a long time ago. TM is the most blatantly anti-competitive, anti-consumer entity since the big cable companies.