Ticket brokers are independent agents who are not af

Ticket brokers are independent agents who are not af -...

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Ticket brokers are independent agents who are not af. liated with, nor endorsed by, the event promoter. Event promoters and ticketing agencies typically tend to limit brokers’ access to the primary market. Brokers obtain tickets through many channels, including box of. ce, ticketing agency, . rst-time buyers and by other methods. They also exchange tickets through national networks. One website that offers clearinghouse services for U.S. brokers is Ticketsnow.com. In contrast to brokers, who are of. cially licensed businesses, scalpers sell tickets in front of the venue just before the start of the event. Scalpers have a poor public image. They are often perceived as pushy and price gouging, in part because they typically do not post prices, and they often violate laws limiting the prices at which tickets can be resold. The word “scalper” was . rst used in the late-nineteenth
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Unformatted text preview: century to refer to those who buy and sell at a pro. t, but at a price lower than the of. cial one, unused portions of long-distance railway tickets. The term was later used to name those who resell tickets for events above face price. Promoters and ticketing agencies often attempt to exclude brokers from the secondary market. For example, promoters restrict the number of tickets a single buyer can purchase at the box of. ce and control large purchases made by credit cards at the ticketing agency. Ticketmaster stipulates in its contract with independent outlets that physically deliver tickets (like video stores) that “the providing of tickets to third party scalpers or brokers through preferential sale or otherwise . . . will be considered a material breach of this Agreement” (Of. ce of New York State Attorney General, 1999)....
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This note was uploaded on 02/24/2010 for the course ECON 1313212 taught by Professor John during the Spring '09 term at The School of the Art Institute of Chicago.

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