Across all listings -...

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Across all listings, eBay estimates that it will sell $150 million worth of tickets in 2002. Although this . gure may seem high, it represents only about 1 percent of total ticket sales based on the Forester Research estimate. On a given day (in August 2002),more than 22,000 tickets were for sale on eBay, with about 9,000 for concerts alone, and auction prices above $1,000 were not uncommon. Although some of the exchanges in the secondary market are driven by early buyers who genuinely intended to attend the event at the time of purchase and changed their mind, the majority of exchanges are initiated by professional brokers who buy tickets early with the intent of reselling them at a pro. t. Broker markets are usually quite competitive in most large metropolitan areas. Brokers are typically small . rms with a few employees and about $3 million in
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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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