Ticketmaster and dynamic pricing

What if the tickets are the same price from all vendors? €250 € 400 and 500 for example? This would be defined by the artist. Granted there might be fee differences to the artist and the consumer.

People are going to lose out when demand exceeds supply - and queuing is required in almost all high demand events - it's only when you get to the top of the queue you can see what tickets are left. For example, your queuing position means that there are only 400 and 500 euro tickets left when you get to the top of the queue. How long should you be given to make a decision to buy (bearing in mind others are queuing also)

A well functioning market definition depends on where you sit within that market.

Are people going to pay 400 euro for gigs on a regular basis? I highly highly doubt that. These gigs had mania and histeria written all over them. As I have said, there is no atmosphere at events full of rich people. I don't care what you say. People will see it as a money grab that really isn't worth it.

I am speaking about large, in demand stadium type gigs where people will pay 400+ for a ticket.

but that won’t work. Promoters often hold extra dates and then deciding on how well the sales are going then announce the second night.
promoters need the flexibility cause what if the first night is actually a slower seller. They decide not to do the second night as demand ain’t there. They lose millions as a result

The only way to tackle it is to not buy the tickets en masse. It's the same with flights or hotel rooms, don't buy the tickets and then eventually the prices comes down.

But you know what the problem with that is.

The queue position on big events isnt random.

There is an algorithm, certain accounts are given priority, these are called Fire accounts and there is a market for the buying and selling of these.

Other accounts are sent to the back of the queue and the rest are randomised.

The vast majority of concert goers only know of ticket master such is there hold on the industry.

See it really depends and I think it was the CEO of live nation ( I cant find the article at the min) who said this... People see these things as a once in a lifetime event and will buy

I think this grabbed a lot of non regular gig going people who will do the 1 a year . Given I think the age profile of a typical Oasis fan I assume a lot of this gig going stopped for a lot once raising a family came along and now it's something they are willing to go all out and spend to do it as a once off.

I am a regular gig/festival goer ( up to 30/40 a year) and as much as I'd have loved to go to this gig i financially couldnt justify it for one single concert.

I'm in two minds about dynamic pricing. I fully agreed that the Oasis situation was a complete sh*tshow. But I lived in London for a year and used to attend countless theatre shows and their pricing was often dynamic-y.

I never really felt THAT put out by it. They were priced by the seat and more often than not I'd go for the cheap seats. At the weekends you'd pay a premium. The week of, you could get caught for a massive rise or drop in tickets. All very transparent. It would remind you of airline tickets. Everyone knows the story.

An artist paints a picture, they decide to sell it for 10,000 euro. Some pays it. They got the price they wanted.

Where is the dynamic pricing? You opening paragraph makes no sense.

If a picture artist makes a painting they should be allowed to set the price and sell to the highest bidder. Fans of the artist have no right to complain that they were priced out of owning a piece themselves.

The same goes for concerts. The artist should be free to set the entry price to their shows and charge as mush as people are willing to pay.

Once everyone is informed, why shouldn't they have that right?

Tickets were advertised here as "From €86". I wouldn't say they were misinformed. Tickets were indeed from that price.

Its like when Ryanair advertise their sales and say "Flights as low as €19.99" but you might find the flight you want is €60. Or when you go into a shop that has sales "up to 50%", you might find the top you want is only 20% off.

The wording is clear enough that not all the tickets are €86. Now perhaps there is a push to be more clear what the price range is, but I wouldn't say there is anything misleading as the word "From" makes it quite clear.