The Secondary Event Ticket Market

The Internet has become a major playing field for buyers and sellers of event tickets in the extremely competitive $10-$12 billion event ticket market -- particularly for sold-out sports games and very popular music concerts and plays. Called the secondary event ticket market, this is the part of the event ticket market that includes tickets bought by professional brokers as well as extras that season ticket holders can't use. People estimate the size of the secondary event ticket market to be at about $2 billion although the estimates of its size vary widely.

A huge market with tons of small players, the pre-Internet event ticket market was a perfect match for the Internet around 1999, and as we fast-forward to 2006, hundreds mom-and-pop electronic storefronts, auction-based websites and online destinations now resell secondary event tickets. While many of these are smalltime operators, a few major players also exist. As one would expect, eBay members are also in on the act and in a big way. In fact the biggest players of all in the secondary event ticket market are the members of eBay, which as a group sell more than $300 million in event tickets annually and boast by far the biggest community of buyers and sellers.

But members of eBay also offer the biggest potential for fraud. Like everything else sold on eBay, stories abound of people getting ripped off by buying fake event tickets. Although buyers can check out how others have rated a given seller, eBay is largely operated on an honor system and offers fertile ground for fraud.

To work around this event ticket fraud problem, some secondary event ticket sellers offer 100% guarantees. If you get a bad ticket, they replace it for free. Other secondary event ticket sellers take possession of the event tickets and verify them before listing the event tickets as being available for sale.

Online event ticket sales are growing as consumers become more comfortable shopping on the Internet. One source estimates that online event ticket sales will grow by 27 percent this year.

Even professional sports teams are involved in the secondary event ticket market. The demand for Chicago Cubs tickets is so high that the team set up their own secondary event ticket market with a team-owned ticket broker.

Reselling event tickets, otherwise known as "scalping," is not against the law. Selling event tickets, however, is often against the law where the event tickets are sold in the immediate vicinity of an event.

Thirty-eight states, including California, have no meaningful restrictions on the resale of event tickets. In twelve states, the resale of event tickets is regulated. In about half those states, ticket brokers who take inventory must register with the state. In the remaining six states, event tickets cannot be resold above a maximum price premium. In these states a broker might be allowed to charge 20 percent more than the event ticket's face value at a maximum.

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Difference Between a Primary and Secondary Ticket Broker

When buying tickets for a particular event, it is important to know what the difference is between a primary ticket broker from a secondary ticket broker. So what is the difference? Major concert and sporting events are usually sold through a ticket broker. These ticket brokers will usually charge a commission for the particular service that they provide. There are two types of ticket brokers: Primary ticket brokers and secondary ticket brokers. A primary ticket broker is a company that has agreements with event promoters to sell tickets for the promoter's particular concert or sporting event. An example of a major primary ticket broker is Ticketmaster.com. A primary ticket broker serves the interest in both the promoter and the consumer. The primary broker serves the promoter in offering a more efficient means of distributing tickets, in effect, increasing the promoter's revenue. The primary ticket broker serves the consumer in providing easier access to obtain tickets.

A primary ticket broker charges a small percentage of the ticket revenue as well as a service charge (commission) that the consumer pays. Although it seems that there are a lot of extra costs associated with these brokers, and there are, buying from a primary ticket broker is usually the cheapest way to buy tickets to major events. The reason being, primary ticket brokers charge the face-value for the tickets that they sell. There is very little if any mark-up on these tickets. Once these tickets get sold out in the primary market, the only way consumers can get tickets to these high demand events is through the secondary ticket market.

A secondary ticket broker is one of the major players in the secondary ticket market and usually buys tickets at their face value or just a little bit over, and then subsequently sells them to the general public for the tickets fair market value. This fair market value is basically determined by what the consumer will bear to pay for a high demand event. Secondary ticket brokers like TicketsNow.com sell these tickets at a premium price as well as charge a 15% commission. StubHub.com, although not a real ticket broker, allows people to buy and sell tickets at their site as they please. Since some of the times you may be buying tickets from sellers that either do not understand the ticket market or do not care about the ticket market, a buyer can potentially get better deals here.

Stubhub.com charges a 10% commission to the buyers of the tickets and 15% commission to the sellers of the tickets. So Stubhub.com makes a total of 25% commission per transaction. When looking for major events that have been sold out, and in consequence shopping in the secondary ticket market, the key is to have the right information to pay the least amount of money. Using resources like ticketpirates.com will give you the information you need to determine the best sources to buy tickets in the secondary ticket market, evaluate the different secondary ticket brokers, and get a feel for the secondary ticket market prices for particular events. This in turn will help you keep as much money as possible in the pocketbook.

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The secondary market for event tickets

The Internet has become a major playing field for buyers and sellers of tickets for events in a highly competitive $ 10 - Event Ticket $ 12 billion market - particularly for sold-out sports games and very popular concerts and theatrical performances. Called the secondary market for event tickets, this is the part of the event ticket market, that the use does not include tickets bought by professional brokers, as well as extras that season ticket holders as possible.People estimate the size of the event ticket secondary market at about $ 2 billion, although estimates of its size vary greatly.

A huge market with tons of small players, the Internet event ticket market was before the perfect complement to the Internet around 1999, and as we Then, in 2006, hundreds of mother-and-pop showcase electronic-based sites Auction and destinations now sell secondary event tickets. Although many of these are from Small TimeOperators, some key players are also available. As expected, eBay members are in action and in a big way. In fact, the greatest player of all in the case of secondary market for tickets, members of eBay, to sell the group as more than 300 million dollars in tickets for events a year and offer by far the biggest community of buyers and sellers.

But members of eBay offer the greatest potential for fraud. Like everything else sold on eBay is full of stories of peopleThe tickets have ripped through the purchase of counterfeit event. Although buyers can check how others have rated a given seller, eBay has operated largely an honor and provides fertile ground for fraud.

Around this event ticket fraud problem, secondary sellers of event tickets are 100% guaranteed. If you receive a card wrong, they replace it for free. Other secondary event ticket sellers take control and possession of tickets for the eventthe list of event tickets as available for sale before.

Online ticket event grow as consumers become comfortable shopping on the internet web. One source estimates that online event ticket sales will grow 27 percent this year.

Even professional sports teams are involved in the secondary event ticket market. The demand for Chicago Cubs tickets is so high that the team of their own secondary event ticketMarket with a ticket broker-owned team.

Resale of tickets for the event, otherwise known as "scalping" is not against the law. Ticket sales for the event, but often against the law, where tickets are sold the event to an event near des

Thirty-eight states, including California, have no significant restrictions on the resale of event tickets. In twelve states, tickets for events is regulated resale. In about half of theseStates, ticket brokers, need to take stock of state registration. In the other six states, tickets can not be resold at a premium at most. In these states a broker to have a maximum of 20 per cent more than the ticket's face value of the event being.

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