Steve
Hero Protagonist
Posts: 3,702
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Post by Steve on Sept 2, 2024 12:22:41 GMT
Lots of emotion being expressed today as a % of Oasis tickets used dynamic pricing and rose in price as they started to run out. www.bbc.co.uk/news/articles/c20r26p7d0roMy view: 'Welcome to a market economy for non essentials, you wouldn't want the alternative' Dynamic pricing is in effect supply/demand pricing and we've seen the same with air tickets and of course eBay and other auctions. If you don't want to pay £X for something, don't offer to pay £X |
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Post by equivocal on Sept 2, 2024 12:43:30 GMT
Lots of emotion being expressed today as a % of Oasis tickets used dynamic pricing and rose in price as they started to run out. www.bbc.co.uk/news/articles/c20r26p7d0roMy view: 'Welcome to a market economy for non essentials, you wouldn't want the alternative' Dynamic pricing is in effect supply/demand pricing and we've seen the same with air tickets and of course eBay and other auctions. If you don't want to pay £X for something, don't offer to pay £X I think if people knew prices would rise as supply diminished, then they could make an informed decision on continuing to queue. If people queue for several hours expecting to pay £150 then find, out of the blue, the tickets have increased in price by £200, I think that's probably sharp practice. |
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Steve
Hero Protagonist
Posts: 3,702
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Post by Steve on Sept 2, 2024 13:44:49 GMT
That I don't know if it's true or not and if Oasis want to harm their brand by using dynamic pricing then that's their choice. But people calling to have dynamic pricing banned really need to think that through.
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Post by equivocal on Sept 2, 2024 14:07:30 GMT
That I don't know if it's true or not and if Oasis want to harm their brand by using dynamic pricing then that's their choice. But people calling to have dynamic pricing banned really need to think that through. Nor me - my four (grown up?) kids got 2 each at £150.00 per ticket. I think as long as there's a red hand pointing out dynamic pricing, then fair enough. |
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Steve
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Post by Steve on Sept 2, 2024 14:45:26 GMT
Well despite my extensive collection of Oasis material I didn't even bother trying. I figure these concerts will be ugly esp crowd wise.
I'm more interested in discussing the general principle and Lisa Nandy's (IMHO idiot) comment that she wants to ensure tickets are always sold at what she considers 'fair prices'. Who determines 'fair'? IMHO the market does and unless its being manipulated by an effective cartel or gouged for essentials, the market ultimately knows best.
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Post by equivocal on Sept 2, 2024 14:58:34 GMT
Well despite my extensive collection of Oasis material I didn't even bother trying. I figure these concerts will be ugly esp crowd wise. I'm more interested in discussing the general principle and Lisa Nandy's (IMHO idiot) comment that she wants to ensure tickets are always sold at what she considers 'fair prices'. Who determines 'fair'? IMHO the market does and unless its being manipulated by an effective cartel or gouged for essentials, the market ultimately knows best. As I said, as long as consumers are aware that ticket prices may increase while queueing, I can't see the problem.
I agree the market should set the price, but I can't say I am comfortable with touting which is, I suppose, selling at market prices.
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Steve
Hero Protagonist
Posts: 3,702
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Post by Steve on Sept 2, 2024 15:31:58 GMT
Nor I especially as I figure touts never declare their earnings for tax purposes. I should confess I have twice bought off what were effectively touts but both times for less than the ticket price and both in the USA where it gets complicated to do with TV blackouts
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Post by Hutchyns on Sept 2, 2024 20:49:53 GMT
equivocal
As someone who has no experience of on-line dynamic pricing, can I ask whether it can work both ways ? For instance if a Concert promoter finds that tickets are selling more slowly than expected, and determines that the tickets appeared to have been initially overpriced, can they make adjustments to lure customers, so that potential concert goer could log on expecting to pay £150 but find the shortness of the queue and the large number of unsold tickets remaining has seen the price revised down to £130 ?
I think I agree with what appears to be the majority opinion, as long as the price determination method is signalled in advance, people can choose to participate or not.
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Steve
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Post by Steve on Sept 2, 2024 21:08:49 GMT
Well the ticket I got to see American Football in Minneapolis was marked down by ~10%
Still got it somewhere but no I don't have a receipt for the cash I paid
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Post by Zany on Sept 3, 2024 6:59:28 GMT
That I don't know if it's true or not and if Oasis want to harm their brand by using dynamic pricing then that's their choice. But people calling to have dynamic pricing banned really need to think that through. Lot of fuss about nothing. The amount of news coverage its got you'd think people were bidding to get cancer treatment. Its a pop concert FFS. As for what someone wants to charge for going to a pop concert. I say it should be governed by what people are willing to pay for non essentials just like everything else. Except perhaps holidays in August where parents are forced to pay double or give a bit of dosh to their school for not attending. |
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Post by equivocal on Sept 3, 2024 13:37:40 GMT
equivocal As someone who has no experience of on-line dynamic pricing, can I ask whether it can work both ways ? For instance if a Concert promoter finds that tickets are selling more slowly than expected, and determines that the tickets appeared to have been initially overpriced, can they make adjustments to lure customers, so that potential concert goer could log on expecting to pay £150 but find the shortness of the queue and the large number of unsold tickets remaining has seen the price revised down to £130 ? I think I agree with what appears to be the majority opinion, as long as the price determination method is signalled in advance, people can choose to participate or not. I'm afraid my experience is similar to your own, so I can't answer your question.
As to signalling in advance, today's press appears to be claiming that failure to 'signal' may be a breach of consumer protection regulations.
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Post by Saint on Sept 3, 2024 14:42:15 GMT
Lots of emotion being expressed today as a % of Oasis tickets used dynamic pricing and rose in price as they started to run out. www.bbc.co.uk/news/articles/c20r26p7d0roMy view: 'Welcome to a market economy for non essentials, you wouldn't want the alternative' Dynamic pricing is in effect supply/demand pricing and we've seen the same with air tickets and of course eBay and other auctions. If you don't want to pay £X for something, don't offer to pay £X Interesting. What is the alternative and why wouldn't people want it? |
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Steve
Hero Protagonist
Posts: 3,702
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Post by Steve on Sept 3, 2024 15:47:10 GMT
Lots of emotion being expressed today as a % of Oasis tickets used dynamic pricing and rose in price as they started to run out. www.bbc.co.uk/news/articles/c20r26p7d0roMy view: 'Welcome to a market economy for non essentials, you wouldn't want the alternative' Dynamic pricing is in effect supply/demand pricing and we've seen the same with air tickets and of course eBay and other auctions. If you don't want to pay £X for something, don't offer to pay £X Interesting. What is the alternative and why wouldn't people want it? Cuba without the sun |
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Post by Saint on Sept 3, 2024 16:09:44 GMT
Interesting. What is the alternative and why wouldn't people want it? Cuba without the sun Can you elaborate, please? |
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Post by Zany on Sept 3, 2024 18:48:13 GMT
Can you elaborate, please? State control. |
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