FanPrice Is Like a Social Ticket Exchange

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There’s a new site that’s becoming very popular called FanPrice.com. The idea is that fans of games, music, etc. can set their own ticket prices to get into venues. Sort of a Priceline for concert goers. Without William Shatner, of course.

The idea is simple: ticket holders, online event sellers, and so forth can list tickets (including seating arrangements and other details) on the site and take offers from fans who want to buy those tickets. If they like an offer, they take it and the fan purchases the ticket through the site. The seller pays a fee and the site guarantees to the fan that the ticket is good.

Sounds pretty simple and, really, it is. It’s a great concept and has been used many times to bring prices down for a lot of things. Does it work here? Well, yes and no.

Since the seller pays a whopping 15% fee to sell tickets on the site, that’s a big disincentive to use the site at all. After all, that’s $1.50 for every ten out of your profits for offering something at a discount anyway. Obviously, if the event is a virtual sellout, you’re not likely to get a better price on FanPrice.com than you will at the door or from the scalper on the street. Simple market forces at work.

For those who want to attend sporting events, are casual fans of a more B-list band, or who are interested in seeing something they haven’t seen before and don’t want to break the bank to try it, the site is probably great.  My suggestion would be to reconsider the percentage charged.

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