Comment by magicalhippo
6 days ago
Here in Norway they passed a law which states you can only resell tickets at face value. I'm sure there are some scalpers still but I can't recall reading about it in the news the way I did before the law.
6 days ago
Here in Norway they passed a law which states you can only resell tickets at face value. I'm sure there are some scalpers still but I can't recall reading about it in the news the way I did before the law.
Maybe that is what we need in US too.
Matt Haney is trying to do something with AB 1720 (Resale Price Cap), and Ticketmaster is supporting it. https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml...
I am not sure why a bill would set some magic and arbitrary percentage other than 0%. This has likely be negotiated with the industry.
Thinking more on those 10% cap, it would allow scalpers to sell the original ticket to themselves, over and over, to eventually reach the price of the market.
Unless Ticketmaster takes a significant proportional bite at every resell, nothing prevents scalpers to triple the price of the original ticket, but reselling in a loop.