Most of them are so stubborn & greedy they keep them/eat them instead of letting them go for less than they want.
One time I gave 2 tickets to a homeless guy to the Orlando Magic vs Chicago Bulls and told him to get what he could out of them because I had to get inside to my seat.
And this is with Shaq, Penny Hardaway, Dennis Scott, etc. vs Jordan, Pippen, etc.
Gotta give him credit he got something for them as someone was in the seats....hahaha
One time I gave 2 tickets to a homeless guy to the Orlando Magic vs Chicago Bulls and told him to get what he could out of them because I had to get inside to my seat.
And this is with Shaq, Penny Hardaway, Dennis Scott, etc. vs Jordan, Pippen, etc.
Gotta give him credit he got something for them as someone was in the seats....hahaha
Many scalpers get their tickets on consignment from ticket broker's who couldn't sell them over the phone (or internet). The scalper usually gives the broker back half price on what they sell and keep the rest of the selling price as their profit. Whatever tix they don't sell, they return to the broker (to prove they couldn't sell them).
In that (extremely common) scenario, selling a 50$ ticket for $20 makes no sense.
No. The scalper has to give the broker back at least $20 or $25 for each ticket sold (on a $50 face value ticket). The scalper gets to keep anything above that. If the scalper sells it for $10, they're taking a loss. In some cases, they'll take a small loss just to keep a good relationship with the broker so that they continue to get their ticket dumps in the future.
The scalper doesn't own the tickets. They're taking no risk (other than possible arrest or trespass depending on the venue).
I don't quite get this. The ticket has a face value of $50 if I bought it from the venue or ticketmasters, etc.
Old school scalping would be buy it ( presumed sellout with additional demand), sell it for $100 or more.
Now do brokers get it for under $25 ? It's not scalping if sold under FV, right ?
Old school scalping would be buy it ( presumed sellout with additional demand), sell it for $100 or more.
Now do brokers get it for under $25 ? It's not scalping if sold under FV, right ?
Many scalpers (at least for Husker games) have one sign that says "I need tickets" then put the sign down once they get a few, sell those, then the merry-go-round happens for the next 4 hours before kickoff.
The guys with the homemade signs aren't working with any brokers so they WILL have a fire-sale before kickoff if you really want to wait and miss kick-off.
The guys with the homemade signs aren't working with any brokers so they WILL have a fire-sale before kickoff if you really want to wait and miss kick-off.
It varies. Every scalper I know (probably 50 to 100, I don't keep track) has a sign or has used a sign. When that's the case, they own the tickets themselves and will try and get what can for them. Most of these same scalper's get dumps from brokers when an event is soft (more sellers than buyers). When that's the case, they never pull out the sign. The sign is usually taken out when the market is strong (more buyers than sellers) and tickets are somewhat scarce. Or when there are buyers and the scalper needs to stock up.
Every once in a while there's what called an upside-down market. That's when the public is willing to sell tickets, but think they're worth more than they are and there aren't many buyers or any buyer that's spending what the public seller thinks they're worth.
Nowadays, with the way ticket prices have soared over the years along with the buying public cutting back on spending, brokers are getting stuck and their unsold tickets are going to scalpers (a few hours before the event).
