Sports tickets on a commodity exchange?
I just read a very entertaining book called Rigged that was written about the Merc Exchange in NY. How it started as a place to trade potatoes and grew into what it is today, an oil exchange.
Well this weekend I read about my new favorite exchange that I really hope takes off. Yoonew, is an exchange for sports tickets, that is focusing for now on Super Bowl 42 tickets. This is a great way for fans to potentially get tickets to watch their teams in big games, at a fraction of the costs. For example, I can buy tickets to watch the Seahawks (if they make it) in this years Super bowl, for about half the price of face value and exponentially cheaper than the after market value. However, if the Hawks were not to make it to the Super Bowl, I would be out a few hundred dollars. You can also buy futures for tickets and still make money if the prices of tickets were to go down.
I think this is a phenomenal business idea and with fans always feeling more optimistic about their team, than the odds actually are, this will lead to alot of trading if the business can get to a critical mass. It can also lead to an affordable way for people to experience dream events. I hope the word spreads and this exchange takes off, because everyone wins, as opposed to only a select few ticket brokers winning at this time.
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Comments
If you look at the graphs closely, you can see how the prices actually changed during last weekends playoff games from in-game events, like touchdowns, turnovers, etc. Seems like a long overdue idea.
In read about the site and what goes down there, I cannot figure out if all of the tickets that I could by are from sellers who register with the site or if some of the tickets are purchased by yOOnew (acting as a broker).
Do you have any word on this Otis?
I agree, this is a really interesting site, and a lot of fun to browse around. They have graphs of how a team’s Superbowl ticket prices fluctuate as their chances of making the Superbowl changes.