Thread: Price gouging for opening night tickets

Originally Posted by Birdman

Economics 101. Supply and Demand.

goodwill: Definition, Synonyms from Answers.com

American Heritage Dictionary:
good·will

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also good will (gʊd'wĭl')
n. 1. An attitude of kindness or friendliness; benevolence.
2. Cheerful acquiescence or willingness.
3. A good relationship, as of a business with its customers or a nation with other nations.
4. The positive reputation of a business viewed as an asset, equal to the excess cost required to acquire the business over the fair market value of all other assets.

See #3. Keep it up and they'll lose it. Treat me like an asset and I'll treat you like a business...not the team I'm an irrational fanatic for.

What is goodwill

When a business has provided good service or product to their customers, the customers develop a trust for the business. They become repeat customers and they tell others what a good experience they had.

That creates a business asset called goodwill, in other words the good will of the customers toward the business.

The goodwill of a business is the whole advantage of the reputation and connection with customers together with the circumstances whether of habit or otherwise, which tend to make that connection permanent. It represents in connection with any business or business product the value of the attraction to the customers which the name and reputation possesses. Its elements can be market penetration, brand awareness, customer loyalty, size and quality of customer list, longevity in the marketplace, proprietary products, intellectual property, etc.

Wait till you see what tickets cost for the ring giveaway. Keep your blood pressure pills handy.

The alternative is these tickets being scooped up in bulk at regular price by second-market sellers who charge even more than that and collect all of the profit for themselves.

I don't understand why anyone would have a problem with "dynamic pricing".

Were you willing to pay face value for tickets to a pre-Sutter, Saturday game at noon last season?

Thought so.

LA Kings new Motto:
Sticking it to the fans that stuck with us. Thanks, fans!

Originally Posted by Mr_Conie

Were you willing to pay face value for tickets to a pre-Sutter, Saturday game at noon last season?

Thought so.

I still remember those days like it was yesterday. Free tickets. Come on! Someone take them so they don't go to waste. Please? Okay, it's gone to waste. *Sigh*

Then we had that ticket exchange program. Oh goody! I have 6 unused tickets for Kings/Blue Jackets! "Ew, Kings and Blue Jackets? I rather watch paint dry. Pass." :(

Originally Posted by SmytheKing

....because they aren't going to turn around and sell that $155 ticket for $150. Now, it's going to go for $350 or so and the fan who was going to be able to go for $300 now has to pay $700. This idea that these tickets won't be sold at a markup is naive at best.

The only reason that the Kings are selling this ticket for so much is because they know a lot of folks want to go and that they can charge what they want because people will pay it.

Of course it is. Waterboy100 was just looking at it from a different perspective. In either case, however, as the first person who responded said, it's called supply and demand. If I can buy a ticket from the team for $X and sell that ticket on the open market for $Y (where Y is some number greater than X), then the team is undervaluing the ticket. The team should not sell the ticket for $X (which allows me to earn $(Y-X) in profit). Rather, the team should sell the ticket for $Y and keep all the profit for itself. Of course, that assumes that the team is entirely motivated by maximizing profits on ticket sales, which isn't true, so maybe the team continues to sell some tickets for $X. However, where $(Y-X) > $X (i.e., where market value is more than double face value), keeping tickets at $X is a little foolish.

Originally Posted by Dr. Mookie

Man... I guess the days of me plucking tickets from eBay at a 11 bucks a piece on game day are over.... Oh well. I'll take the winning.

Exactly. Which was worth more this past NFL season: a ticket to the New York Giants' 8th regular season home game or a ticket for the same seat in the same stadium for the New York Jets' 8th regular season home game? The Giants have won 4 Super Bowls, including the last one played and 2 of the last 5. The Jets have only won and appeared in one Super Bowl -- over four decades ago. I therefore assume that the Giants can charge more and that their tickets generally sell for more on the secondary market. Winning comes with a price, and a perennial also-ran that starts winning will effectively price some of its fans out of the market for tickets because greater demand will exist. The same face-value $155 ticket for the home opener this season probably sold for half that much last season. That's the cost of winning.

So for those of you griping about the price increase, how many of you are season ticket holders?

The simple solution would be to get a season ticket package and avoid the whole mess.

It's not cheap, and it's a commitment. And I know a lot of people can't do it. But for games like this, it's a HELL of a benefit.