Why is concert ticket buying such a ripoff?

[3chordcharlie]

Point being that tickets are underpriced if there's a viable reseller market scooping up all of these tickets. TM and the other sellers could be doing all of this themselves and cutting out the middle man if they priced them correctly from the start.

If the goal of the venue/band includes selling out, the existence of a resale market does not provide much information about the appropriateness of the price. The equilibrium price for a sellout may be very close to the retail price, and still include a viable resale market.

The value of the tickets is whatever someone is willing to pay for them. If someone is willing to pay $600, then the value of those tickets is $600.

But the value is affected by scarcity. So a few sets of prime seats selling for $600 does not imply that the whole section should have been priced at $600.

Successfully selling the same seats for different prices to different people already has a name in economics: it is price discrimination.

 

[shortylickens]

 

[3chordcharlie]

Yes, and the area under the demand curve, but above the market price is available for a resale market.

That does not imply that the price is 'wrong'.

A further complication is that once a venue is chosen, quantity becomes fixed unless the show fails to sell out.

 

[Ns1]

A further complication is that once a venue is chosen, quantity becomes fixed unless the show fails to sell out.

sometimes true and sometimes not, as adding 2nd/3rd/4th shows based on sellout is not unheard of (and is also a great way of ruining scalper wallets)

 

[Ns1]

For the OP...

For those of you that missed out on your first chance to see Flight of the Conchords in L.A., check it out! Jemaine Clement and Bret McKenzie will bring a second Flight of the Conchords Sing Flight of the Conchords date to the Greek Theatre on Tuesday, July 26 after they SOLD OUT their original date on Wednesday, July 27. You can also see Flight of the Conchords at the Santa Barbara Bowl on Friday, July 1.

Tickets for the new Flight of the Conchords at the Greek Theatre will go on sale this Friday, April 1, at 10:00 a.m. via AXS for $39.50 to $59.50 each plus service fees. There will be a Goldenvoice presale on Thursday, March 31, at 10:00 a.m. Password: SING. Don't miss another opportunity to spend a hilarious and musical night under the stars with Flight of the Conchords in July!

So I should try to buy tix for this right?

 

[MongGrel]

I haven't been to a concert in years. But the Flight of the Conchords is on tour this year.

Really? Forced? I think not.

I'd never spend $600 bucks for that to begin with.

Probably wouldn't bother to begin with, if it was $1

Must be nice to have a lot of spare change.

 

[marincounty]

These assholes have figured out that there are enough rich douchebags that will pay hundreds of dollars for a show.
Notice the Rolling Stones played for free in Brazil, it cost me like $75 last time I saw them.
Many years ago I went to a day on the green with about five bands- $20, and some fan hung a huge banner with the message "Bill Graham ripoff".
Bill Graham is credited with raising the income of then struggling bands like the Dead, now these bands are filthy rich. Bill Graham is probably rolling over in his grave about what has happened to ticket prices.

 

[shortylickens]

These assholes have figured out that there are enough rich douchebags that will pay hundreds of dollars for a show.
Notice the Rolling Stones played for free in Brazil, it cost me like $75 last time I saw them.
Many years ago I went to a day on the green with about five bands- $20, and some fan hung a huge banner with the message "Bill Graham ripoff".
Bill Graham is credited with raising the income of then struggling bands like the Dead, now these bands are filthy rich. Bill Graham is probably rolling over in his grave about what has happened to ticket prices.

Tom Petty said he was doing a concert and noticed two guys in the front row wearing expensive suits and bullshitting while he was singing.

And have you ever noticed the assholes on the court never pay attention to the ball game?

 

[OverVolt]

People are buying them the minute they go on sale hoping to flip them on stubhub.

In such a case, the best ticket prices will be a couple weeks before the event. They might spike a little just before, they might not. But not $600.

 

[GagHalfrunt]

Why is it a rip-off? Because suckers are willing to allow it to be a rip-off. If the idiots didn't pay those prices they couldn't sell for those prices. Congratulations, you're part of the problem.

 

[OverVolt]

Haha, its not so simple. Organized buying of the tickets the moment they go on sale withholds supply to hike up the price. It then becomes a game of waiting till the last second to buy.

If the venue starts to get booked prices will rise right before as well.

However starting at $600 means someone is hoarding tickets that ultimately will become worthless the moment the concert begins. So you have to wait it out.

 

[William Gaatjes]

The music company sells most of the tickets to an online auction company. But, through several hidden daughter companies, the auction company is owned by the very same music company that sold the tickets in the first place. And the buyers that buy a large amount of tickets are also daughter companies of the same music company. The prices are inflated artificially. This has become common practice in the western world. I had seen a documentary about it. This is true white collar crime but allowed.

 

[BoberFett]

Sorry for the Buzzfeed link, but every now and then they have a nugget of wisdom.

http://www.buzzfeed.com/perpetua/6-reasons-why-its-so-hard-to-buy-concert-tickets#.hxJ8RbbYq

Concert ticket buying sucks. First world problem? Sure, but it's a painful first world problem, I hate buying concert tickets with a passion. It's basically designed to make people hate the experience.

I tried buying Conchords tickets, couldn't get those. Same for Metallica. Sold out in minutes, and already posted elsewhere for several times face value. I was fortunate and got tickets for Nathaniel Rateliffe, but even those weren't great seats.

In general I despise stadium or big theather national acts. I'd much rather spend $10-25 for a show at a club and see a local band or a band that's past their prime. There's no assigned seating, you can grab a drink, move around. Much more pleasant.

 

[BoberFett]

The music company sells most of the tickets to an online auction company. But, through several hidden daughter companies, the auction company is owned by the very same music company that sold the tickets in the first place. And the buyers that buy a large amount of tickets are also daughter companies of the same music company. The prices are inflated artificially. This has become common practice in the western world. I had seen a documentary about it. This is true white collar crime but allowed.

Sadly, as long as fans will keep paying the ridiculous prices, there's no incentive to change. $300-500 per seat? No thanks, you can buy every CD and concert DVD a band has put out for that kind of money. But until people refuse to play along and bands find themselves playing to empty stadiums, it will continue.

 

[thesmokingman]

It's not just concerts, sporting events are stupid crazy. Any regular Clippers game nose bleeds avg 100 bucks to 800 and up for the floor. Omfg at a minimum that's 19K x 100 for staples center. They must rake in ten times that.

 

[William Gaatjes]

Sadly, as long as fans will keep paying the ridiculous prices, there's no incentive to change. $300-500 per seat? No thanks, you can buy every CD and concert DVD a band has put out for that kind of money. But until people refuse to play along and bands find themselves playing to empty stadiums, it will continue.

Well, it has gotten so worse, that some bands start to sell their own tickets, bypassing the music company. I do not know the name anymore , but it is common practice. It is the same problem with overly expensive tickets for dance festivals. I do not remember all the details because that documentary was about half a year ago.

 

[Ns1]

ITT: people who suck at ticket buying

 

[dainthomas]

sometimes true and sometimes not, as adding 2nd/3rd/4th shows based on sellout is not unheard of (and is also a great way of ruining scalper wallets)

This is what Garth Brooks does. All seats are the same price, and your seats are randomly selected when you buy them. He had five shows in Portland (including two in one day) because they kept selling out.

 

[NutBucket]

Sorry for the Buzzfeed link, but every now and then they have a nugget of wisdom.

http://www.buzzfeed.com/perpetua/6-reasons-why-its-so-hard-to-buy-concert-tickets#.hxJ8RbbYq

That's actually not bad for buzzfeed. How dare they present something factual!

Anyway, credit card presales aren't as "fixed" as they claim. I just have a normal Amex Blue which costs me nothing and have access to tons of presales. I had a Citi Platinum something or other too but I don't think I ever used it for a presale. I've also done the fanclub thing but not in over a decade. I guess it's more of a mess than ever now.

But I definitely agree nostalgia sells. I'm only 33 but I've shelled out big bucks over the years to see The Police, The Eagles, The Stones, Tom Petty, Black Sabbath, etc. mostly because I know these guys won't be around forever. Unfortunately that means my wallet is competing with the old farts that can afford pricey seats. Oh well, it's only money!

 

[thesmokingman]

I guess we should keep that Amex card even after Costco changes cards.

 

[BoberFett]

ITT: people who suck at ticket buying

Someone should feed your genitals to a dog.

 

[Ns1]

Someone should feed your genitals to a dog.

yes. yes they should.

 

[nakedfrog]

How should one prepare genitals before feeding them to a dog? Does it depend on the breed?

 

[Ns1]

How should one prepare genitals before feeding them to a dog? Does it depend on the breed?

if you do a long boil it becomes something closer to a chew toy, whereas a quick blanch then bake would result in something closer to a dog treat.

 

[nakedfrog]

if you do a long boil it becomes something closer to a chew toy, whereas a quick blanch then bake would result in something closer to a dog treat.

I see... so it's down to whether you'd rather see the dog snarf it down, or gnaw on it for a good while?