Ticket Scalping: Hannah Montana

Responding to what he calls ''obscenely high prices'' for concert tickets, a state lawmaker from Miami Beach wants to crack down on people who scoop up tickets and resell them at hundreds of dollars more than face value....

''A lot of people who wanted to go to the concert would have obtained tickets instead of most of them going to scalpers and resellers,'' said Gelber, who said he was unable to buy tickets to the Montana show because he was unwilling to pay the inflated prices....

Last year, state lawmakers repealed Florida's anti-scalping law that prevented anyone from reselling a concert ticket for more than $1 above the face value. The Legislature overwhelmingly approved the proposal...

Gelber's bill would not bring back the anti-scalping law, but it would make it a crime to use ''ticket purchasing software'' to obtain tickets from a website. The legislation would also require companies that resell tickets to register with the state and post a $50,000 bond. Those who break the law could be fined three times the amount of the scalped ticket....

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Supply and Demand can't be repealed.

$75,000 Playoff Tickets

But back at on the Northside of Chicago at the friendly, but pricey confines of Wrigley Field, a larger fan base and more limited supply of tickets had driven the average resale price up to $334, with some tickets selling for as much as $2,177, and standing room tickets going for $100...

A pair of seats five rows behind the first base dugout at Wrigley for one World Series game have already sold for $6,000 each, already topping the highest price for a ticket sold on StubHub to last year's World Series-- $5,883 each for four seats in row B behind home plate for Game 3 in St. Louis.

And if the Cubs rally and somehow make it to the World Series, we are likely to see even higher prices. One seller is already listing a pair of tickets for $75,000 each...

The laws were among the most worthless on the books. If anything, they drove ticket prices higher by limiting supply as the laws made some potential sellers reluctant to put tickets up for sale. Numerous studies have shown ticket resale prices drop once anti-scalping laws disappear.

So even though few can afford to shell out $75,000 to root, root, root for their home (or road) team in the playoffs, having an open secondary market for ticket sales makes it less likely that anybody will ever have to pay such a high price in the first place.

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