Expected Value as measured in dollars is not the same as Expected Utility. I highly doubt you are increasing the Expected Utility of these events, and you are most likely decreasing them. Tearing up all but one ticket to the World Series and selling it to Bill Gates for $100 million if he wanted to pay it may make him smile. Distributing those tickets to 40,000 fans will inarguably bring them greater combined joy. I would argue there is a high degree of correlation between those who are clicking at their computer to get tickets and the amount of utility received from those tickets. Just because they need to pay rent instead of the market clearing price does not mean they would not have extracted much greater utility from the the ticket than your eventual customer.

You may say this disconnect between Expected Value as measured in dollars and Expected Utility is true of many goods and services, but the stadiums and venues built to host these events are usually publically funded with the justification being that it will bring happiness to the entire community. You have essentially extracted all of the utility from these community projects from the poor to lower middle class, probably made it smaller, and then distributed it to the rich for your own profit. Yeah being one small cog in this process is hardly a sin, but there is a reason many states and municipalities have attempted to ban scalping, and its not because they like eliminating useful and beneficial services.

ya and everyone would be happier if they could buy an iphone for 1 dollar but apple hates poor people

you're right - it's because they don't understand basic economics.

i don't have any good questions, but aside from the people who don't understand how prices work, this has been a good thread.

So by your logic, the reason it's illegal to sell Cocaine is b/c law makers don't understand basic economics?

Translation;

Rather then trying to to justify or explain my actions, I'm going to avoid criticism and go on pretending like I'm offering some noble service.

I'm not complaining b/c I can't buy an Iphone for $1.

But if I'm in line like everyone else, and the first guy in line buys every Iphone available, then turns around in line and sell those Iphones to everyone inline for like 4x the price, I'm going to be pretty upset, and rightfully so.

But I guess that first guy in line is a great service provider to the rest of us right?

Thankfully edge stopped. EfromPegTown has been infracted for severely tarding up a perfectly good ask me thread. Now... Back to questions pls tks.

Translation: Don't aks questions people don't want to answer?

wat

Now that this thread is getting back on track... anymore good stories like the ones from that interesting article you linked? Ever have anyone threaten you? Ever hire a bunch of homeless guys to stand in line to pull tickets for you? Stuff like that.

What did you think about the Cubs starting their own secondary distribution company awhile back? Do you think pro teams will resort to this in the future for high value seats?

I worked for a broker in Chicago in the mid to late 90's for awhile. I had a trick for buying tickets to concerts. Whenever a big rock band was coming to town i would go to a mall (i think it used to be JC Penny or Carsons that had the TM outlets back then but I'm not positive) in a predominantly black area and generally be one of about 6 people in line repeatedly buying the max 4 or 8. I didn't have enough capital to really profit from this since i was high school age so i convinced a broker i had a hookup and he would literally give me a wad of cash to go pull tickets for him. I also did deliveries for him on occasion. Was a sweet way to get tickets to shows and make extra money. Too many people must of bragged about it because after a couple of really good years the lines just kept getting longer.

Damn, good idea.

Do yourself a favor and go. Best live band touring right now.

good moves all around. this place is srs biz 4realz yo

That's exactly what happened when the iPad came out or when the Wii came out. Remember all the complaints about people can't find a Wii at the store for $250 so they'd have to buy it on eBay for $500? It's the same principle. Any time a good gets sold under market clearing price, some one will try to make a buck on it by buying them up and resell them! This is especially true of limited goods like tickets.

Efrom,

FWIW, I think you should be a lot madder at companies that buy up blocks of seats and season tickets for people who don't give a **** about the game or show and oftentime those tickets don't even get used.

If all those corporations and sponsors weren't allowed to buy up lots of boxes and seats, there would be way more tickets available for real fans!

These blocks of seats that you speak of allow for a free flow of blow and hookers. Pretty valuable, AFAIK. It is really ****ed though that they can deduct 1/2 the cost of tickets as a business expense. It doesn't take an economist to see how this distorts the market.

people need to stop blaming OP for arbing/scalping tix which is bound to happen whenever anything gets sold for less than it is worth

the real ****up is ticketmaster and the system whereby tickets are sold

People, nobody said that this is not a lucrative business. It most obviously is, or OP would not be doing it.

Just don't try and tell me you're doing some noble service.

This thread is good, please keep talking about being a ticket broker.

so... youre telling people to not do something that they havent done? rofl thanks.

Do those Ticketmaster booths in malls and stores get a special allotment of tickets that aren't available online? If not why would anyone ever get tickets from them?

I like how you explained that. Makes total sense. I also appreciate that you recognize being at the game when something momentous happens is priceless. Society is way too dollar conscious in this regard. Memories are priceless, especially when your sports teams are actually worth a damn.

My question is- how much capital would one need to start in order to do an effective job of what you do?

i got a taste of the "network" when i was in germany for the world cup. just happened to be in the same traincar as a bunch of these guys. there were a bunch of thuggish street guys from separate groups and a few upper level guys who looked a little more refined.

they were trading war stories and it was kinda interesting. the upper level guys were describing the apartment they had in frankfurt for like 5k a month due to security and all the computer stuff they were running. one of the guys said he made bank on the indians for years. it was funny they would be like, hey didnt i meet you 6 years ago at the olympics? blah blah. you going to beijing? south africa? the street sellers were makin fun of the higher level guys "we keep it real. we hustlin, workin the street. you a sell out."

http://techdirt.com/articles/20100820/13432610711.shtml

now whyyy would you have an entire row of tickets, in the nosebleeds, to a late august Indians game?

Maybe his company got them or whatever, who cares.

Burning them for fuel is probably the best value you can get, though.