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January 10, 2008

Bills aim to deflate Internet-inflated event ticket prices

Back in the day, the desperate sought out a scalper stationed outside, say, that Led Zeppelin show. But when Hannah Montana -- a.k.a. Miley Cyrus -- played Rhode Island in December, fans trolled the Internet, where tickets inflated to as much as $500 a pop.

Now state Sen. John J. Tassoni Jr., D-Smithfield, has introduced bills aimed at closing what he called a loophole that lets people buy up lots of tickets for various events, then resell them at jacked-up prices on sites such as eBay and StubHub.com, according to a news release.

Hannah Montana tickets originally priced at $21 to $63 shot up to $229 to $500 under that practice.

Rhode Island law presently bans ticket scalpers. It allows "resellers" such as recognized Internet sites to charge a fee, which law defines as not more than $3 or 10 percent of the price printed on the ticket.

One Tassoni bill calls for banning online purchasing of tickets to events in Rhode Island for the purpose of reselling them at prices that exceed what current law allows. A second Tassoni bill would add to current law language stating that Internet ticket sales are not exempt from the $3 or 10 percent resale price cap.

“This is not about demand, it is about greed," Tassoni said of the inflation on Internet sites. "These businesses can electronically buy thousands of tickets and make a killing rather than a reasonable profit for reselling. The performers at these events don’t care, because they are making their share no matter what. It is the people who want to attend these shows who are getting cheated by this practice because there aren’t any $29 tickets left at the box office. Consumers are being forced, if they want to see a show or a sporting event, to pay an astronomical amount via Internet so some middleman with a computer program can make a bundle."

The bills have been referred to the Senate Judiciary Committee.

-- projo.com staff writer Michael P. McKinney

Posted by Mike McKinney  at 2:09 PM | Permalink

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Sharon Ferullo | January 31, 2008 11:36 AM link

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