Follow me on this one…I get to the point as quickly as possible:
Tickets to see Mumford and Sons in Edmonton went on sale Friday at 10:00 am. By 10:02 am they were sold out. By 10:05 am dozens (or more) tickets showed up on craigslist/kijiji for as much as $500 a pair. That’s about 3 and a half times the price they sold for. Keep that figure in mind “three and a half times the price”
I’m almost at my point…stay with me:
A brand new Ford Focus, right off the lot from goford.ca sells for $17,649. Check it out.
Goford.ca does not sell Ford Focus’ for $5,045.00 (three and a half times less than the manufactures suggested price) because the market has determined that the value is higher.
Why can’t musicians figure this economic issue out? They THINK they’re being righteous (and appearing non-capitalist) by selling their tickets at a price that does not reflect the value. In my opinion, this is incorrect. They should charge what the tickets are worth (determined by the market) and cut the scaplers out.
Oh, I know what you’re thinking “Dave, I can’t afford a $250 tickets to see Mumford and Sons…that’s not fair?!?!?” Hey, I’d love a few Ford Focus for 5 Grand but that ain’t the price, and you don’t see me crying to goford.ca about it.
If an artist REALLY wanted to cut out scaplers AND appear humble, they’d still charge market value, and make a handsome donation to a local charity as opposed to lining the pockets of “ticket sites” by undervaluing their product.
Am I nailing this…or am I way off??