How Scalpers Make Their Millions With ‘Hamilton’
Marlene Breverman stashed this in Outrageous
"For most of May, the median price of a ticket on the secondary market was around $850. Between the Tonys and the July 9 performances, it pushed toward $1,600. Before Mr. Miranda’s announcement of his departure, ticket holders were offering a seat for the July 9 performance at an average of $2,700. With the news of his exit, the average asking price quickly climbed to $10,900 a seat.
Mind you, the average face value of a “Hamilton” ticket was $189."
http://www.nytimes.com/2016/07/30/upshot/how-scalpers-make-their-millions-with-hamilton.html
Stashed in: New York, Consumer Trends, Pricing!, @Lin_Manuel
"Congress Moves to Curb Ticket Scalping, Banning Bots Used Online"
"With public attention focused on the scourge of online ticket scalping, Congress has passed a bill outlawing bots, or computer programs that let users scoop up the best tickets and resell them at inflated prices."
"The bill accomplishes what advocates like Lin-Manuel Miranda, the creator of “Hamilton,” have long pushed for. It would make it illegal to circumvent the security measures of ticketing websites, which bots often do, and would give enforcement authority to the Federal Trade Commission. Critics say bots feed a high-priced resale market that pushes tickets out of reach of ordinary consumers, particularly for hot events like “Hamilton."
"This year, an investigation by the New York State attorney general found abuses like a single scalper buying more than 1,000 tickets in under a minute for a U2 concert at Madison Square Garden. Ticket bots are illegal in New York, and last month Gov. Andrew M. Cuomo signed a law increasing penalties for their use."
Wow Hamilton ticket prices are outrageous. I guess that's what the free market gets us?
11:45 PM Dec 08 2016